Cover Page
Cover Page | 12 Months Ended |
Sep. 30, 2022 shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Document Registration Statement | false |
Document Annual Report | true |
Document Period End Date | Sep. 30, 2022 |
Current Fiscal Year End Date | --09-30 |
Document Transition Report | false |
Document Shell Company Report | false |
Entity File Number | 001-41156 |
Entity Registrant Name | SIGNA Sports United N.V. |
Entity Incorporation, State or Country Code | P7 |
Entity Address, Address Line One | Kantstraße 164, Upper West |
Entity Address, Postal Zip Code | 10623 |
Entity Address, City or Town | Berlin |
Entity Address, Country | DE |
Entity Common Stock, Shares Outstanding | 387,577,387 |
Entity Well-known Seasoned Issuer | No |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Non-accelerated Filer |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
ICFR Auditor Attestation Flag | false |
Document Accounting Standard | International Financial Reporting Standards |
Entity Shell Company | false |
Auditor Firm ID | 1021 |
Auditor Name | KPMG AG Wirtschaftsprüfungsgesellschaft |
Auditor Location | Düsseldorf, Germany |
Amendment Flag | false |
Document Fiscal Period Focus | FY |
Document Fiscal Year Focus | 2022 |
Entity Central Index Key | 0001869858 |
Ordinary shares, nominal value €0.12 per share | |
Document Information [Line Items] | |
Title of 12(b) Security | Ordinary shares, nominal value €0.12 per share |
Trading Symbol | SSU |
Security Exchange Name | NYSE |
Warrants to purchase ordinary shares | |
Document Information [Line Items] | |
Title of 12(b) Security | Warrants to purchase ordinary shares |
Trading Symbol | SSU-WT |
Security Exchange Name | NYSE |
Business Contact | |
Document Information [Line Items] | |
Entity Address, Address Line One | Kantstraße 164, Upper West |
Entity Address, Postal Zip Code | 10623 |
Entity Address, City or Town | Berlin |
Entity Address, Country | DE |
City Area Code | +49 |
Local Phone Number | 175 2905060 |
Contact Personnel Name | Stephan Zoll |
Contact Personnel Email Address | s.zoll@signa-sportsunited.com |
Consolidated Statements of Loss
Consolidated Statements of Loss and Other Comprehensive Loss - EUR (€) € in Millions | 12 Months Ended | ||||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |||
Profit or loss [abstract] | |||||
Revenue | € 1,062.8 | € 813.7 | [1] | € 644.4 | |
Own work capitalized | 5.5 | 3.4 | [1] | 3 | |
Other operating income | 5.2 | 5.4 | [1] | 0.5 | |
Cost of material | (700.3) | (500.2) | [1] | (414.9) | |
Personnel expense | (163.3) | (89) | [1] | (66.5) | |
Other operating expenses | (481.1) | (234.5) | [1] | (156.8) | |
Depreciation and amortization | (53.9) | (28.5) | [1] | (24.5) | |
Impairment loss | 254.9 | 0.6 | 0.1 | ||
Operating result | (580) | (30.3) | [1] | (14.8) | |
Other finance income | 36.6 | 4.8 | [1] | 0.9 | |
Other finance costs | (21.3) | (9.4) | [1] | (7.9) | |
Result from investments accounted for at equity | (1.2) | (1.3) | [1] | (0.7) | [2] |
Loss before taxes from continuing operations | (565.9) | (36.2) | [1] | (22.6) | [2] |
Income tax (expense)/benefit | 26.6 | (1.6) | [1] | 1.9 | |
Loss before taxes from continuing operations | (539.3) | (37.7) | [1] | (20.7) | |
Loss before taxes from discontinued operations | (26.4) | (8.3) | [1] | (5) | |
Total income/(loss) | (565.7) | (46) | [1] | (25.6) | |
of which attributable to non-controlling interests | 0 | 0 | [1] | (0.9) | |
of which attributable to the owners of SIGNA Sports United N.V. | € (565.7) | € (46) | [1] | € (24.8) | |
Loss per share - Basic and diluted | |||||
Basic loss from continuing operations (in EUR per share) | € (1.7) | € (0.2) | [1] | € (0.1) | |
Diluted loss from continuing operations (in EUR per share) | (1.7) | (0.2) | [1] | (0.1) | |
Basic loss attributable to the owners of SIGNA Sports United GmbH (in EUR per share) | (1.8) | (0.2) | [1] | (0.1) | |
Diluted loss attributable to the owners of SIGNA Sports United GmbH (in EUR per share) | € (1.8) | € (0.2) | [1] | € (0.1) | |
Items that may be subsequently reclassified to profit or loss | |||||
Currency translation differences | € (5.1) | € 0.6 | € 0.2 | ||
Gain (Loss) from derivative financial instruments | (1) | 0.5 | (0.1) | ||
Other comprehensive income/(loss), net of tax | (6.1) | 1.1 | 0.1 | ||
Total comprehensive income/(loss) | (571.8) | (44.9) | (25.5) | ||
of which attributable to non-controlling interests | 0 | 0 | (1) | ||
of which attributable to the owners of SIGNA Sports United | € (571.8) | € (44.9) | € (24.6) | ||
[1]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations.[2]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations. |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 | |
Statement of financial position [abstract] | |||
Property, plant and equipment | € 48.5 | € 37.7 | |
Right-of-use-assets | 139.6 | 60.6 | |
Intangible assets and goodwill | 677.3 | 326.8 | |
Investments accounted for using the equity method | 0 | 0 | |
Other non-current financial assets | 5.1 | 1.4 | |
Deferred tax assets | 0 | 0 | |
Non-current asset | 870.5 | 426.6 | |
Inventories | 299 | 181.9 | |
Trade receivable | 25.1 | 26.3 | |
Other current financial assets | 20.1 | 24 | |
Other current assets | 51.8 | 33.4 | |
Cash and cash equivalents | 43 | 50.7 | [1] |
Current assets | 439 | 316.3 | |
Total assets | 1,309.5 | 742.9 | |
Share capital | 46.5 | 17.6 | |
Share capital - not yet registered (convertible loan) | 0 | 1.7 | |
Share capital - not yet registered (NCI) | 0 | 2 | |
Capital reserve | 1,335.2 | 558.4 | |
Retained earnings | (758.3) | (206.3) | |
Other reserves | (6.1) | 0 | |
Total equity | 617.3 | 373.4 | |
Non-current provisions | 2.4 | 0.1 | |
Non-current financial liabilities | 317.2 | 140.4 | |
Non-current Trade Payables | 0.6 | 0 | |
Total | 7.9 | 1 | |
Deferred tax liabilities | 40.9 | 40.2 | |
Non-current liabilities | 369.1 | 181.6 | |
Current provisions | 1 | 4.9 | |
Trade payables | 194.9 | 102.7 | |
Other current financial liabilities | 42.4 | 27.7 | |
Other current liabilities | 75.6 | 47.9 | |
Contract liabilities | 9.3 | 4.7 | |
Current liabilities | 323.1 | 187.9 | |
Total liabilities | 692.2 | 369.5 | |
Total equity and liabilities | € 1,309.5 | € 742.9 | |
[1]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations. |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - EUR (€) € in Millions | Total | Share capital | Share capital-not yet registered (convertible loan) | Share capital- not yet registered (NCI) | Capital reserve | Equity component of convertible loans | Currency conversion | Cash flow hedges | Retained earnings | Capital and reserves attributable to the owners of SIGNA Sports United GmbH | Non-controlling interests | |
Beginning balance at Sep. 30, 2019 | € 370.3 | € 17.6 | € 367.3 | € 0 | € (0.8) | € (0.2) | € (39.7) | € 344.3 | € 26 | |||
Total income/(loss) | (25.6) | (24.8) | (24.8) | (0.9) | ||||||||
Other comprehensive income/(loss), net of tax | 0.1 | 0.4 | (0.1) | 0.2 | (0.2) | |||||||
Total comprehensive income/(loss) | (25.5) | 0.4 | (0.1) | (24.8) | (24.6) | (1) | ||||||
Equity-settled share-based payment | 0.1 | 0.1 | 0.1 | |||||||||
Conversion of convertible loan | 3.1 | 3.1 | 3.1 | |||||||||
Change in non-controlling interests (NCI) | (0.8) | (0.1) | (0.1) | (0.6) | ||||||||
Ending balance at Sep. 30, 2020 | 347.1 | 17.6 | € 0 | € 0 | 367.3 | 3.1 | (0.4) | (0.3) | (64.6) | 322.7 | 24.4 | |
Total income/(loss) | (46) | [1] | (46) | (46) | ||||||||
Other comprehensive income/(loss), net of tax | 1.1 | 0.6 | 0.5 | 1.1 | ||||||||
Total comprehensive income/(loss) | (44.9) | 0.6 | 0.5 | (46) | (44.9) | |||||||
Reclass Share capital and capital reserve | 119.1 | 1.7 | 2 | 115.5 | 119.1 | |||||||
Equity-settled share-based payment | 2.7 | 2.7 | 2.7 | |||||||||
Conversion of convertible loan | 73.8 | 73.8 | 73.8 | |||||||||
Dividends | (0.3) | (0.3) | (0.3) | |||||||||
Change in non-controlling interests (NCI) | (122.8) | (0.1) | (0.3) | (98) | (98.4) | (24.4) | ||||||
Transaction costs of the capital increase after increase after taxes | (1.2) | (1.2) | (1.2) | |||||||||
Ending balance at Sep. 30, 2021 | 373.4 | 17.6 | 1.7 | 2 | 555.3 | 3.1 | 0.1 | (0.1) | (206.3) | € 373.4 | € 0 | |
Total income/(loss) | (565.7) | (565.7) | ||||||||||
Other comprehensive income/(loss), net of tax | (6.1) | (5.1) | (1) | |||||||||
Total comprehensive income/(loss) | (571.8) | (5.1) | (1) | (565.7) | ||||||||
Reclass Share capital and capital reserve | 0 | 3.7 | (1.7) | (2) | 3.1 | (3.1) | ||||||
Equity-settled share-based payment | 17.8 | 0.1 | 4 | 13.6 | ||||||||
PIPE Financing | 402.7 | 11.6 | 391.1 | |||||||||
Yucaipa Merger | 110.1 | 1.5 | 108.6 | |||||||||
Issue of ordinary shares related to business combinations | 291 | 4 | 287 | |||||||||
Total issuance of share capital | 803.8 | 17.1 | 786.7 | |||||||||
Recapitalization | 0 | 8 | (8) | |||||||||
Transaction costs of the capital increase after increase after taxes | (5.9) | (5.9) | ||||||||||
Ending balance at Sep. 30, 2022 | € 617.3 | € 46.5 | € 0 | € 0 | € 1,335.2 | € 0 | € (5) | € (1.1) | € (758.3) | |||
[1]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations. |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - EUR (€) € in Millions | 12 Months Ended | |||||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | ||||
Statement of cash flows [abstract] | ||||||
Loss before taxes from continuing operations | € (565.9) | € (36.2) | [1] | € (22.6) | [2] | |
Loss before taxes from discontinued operations | (26.4) | (8.3) | [2] | (5) | [2] | |
Loss before taxes from continuing operations | (592.3) | (44.4) | [2] | (27.6) | [2] | |
Adjustments for | ||||||
Depreciation, amortization and impairment | 308.8 | 29.1 | [2] | 24.5 | [2] | |
Income from investments accounted for using the equity method | 1.2 | 1.3 | [1] | 0.7 | [2] | |
Net finance costs | (15) | 4.6 | [2] | 7.1 | [2] | |
Equity-based compensation expense | 17.1 | 2.7 | 0.1 | |||
Other non-cash income and expenses | 1.7 | (3.9) | [2] | 0 | [2] | |
Listing expenses (IFRS 2 service charge) | 121.9 | 0 | [2] | 0 | [2] | |
Change in other non-current assets | 1.3 | (0.7) | [2] | (0.2) | [2] | |
Change in other non-current liabilities | 8.9 | 0.7 | [2] | (0.3) | [2] | |
Change in: | ||||||
Inventories | (40.4) | (29.2) | [2] | (10.9) | [2] | |
Trade receivables | 3.3 | (4.6) | [2] | (1.1) | [2] | |
Other current financial assets | (0.1) | (10.7) | [2] | (3.5) | [2] | |
Other current assets | (9.9) | (12.2) | [2] | 4.4 | [2] | |
Current provisions | (3.9) | 2 | [2] | 2.5 | [2] | |
Trade payables | 32.4 | 19 | [2] | (9) | [2] | |
Other current financial liabilities | (0.4) | 7.8 | [2] | (5.2) | [2] | |
Other current liabilities | (46.1) | 5.1 | [2] | 9.6 | [2] | |
Contract liabilities | 2.9 | (1) | [2] | 2.2 | [2] | |
Income tax payments and refunds | (1.8) | 0.1 | [2] | (0.1) | [2] | |
Cash flow used in continuing operating activities | (183.9) | (26.1) | [2] | (1.8) | [2] | |
Cash flow used in discontinued operating activities, net | (6.6) | (4.3) | [2] | (2.5) | [2] | |
Net cash flow used in operating activities | (190.5) | (30.4) | [2] | (4.2) | [2] | |
Purchase of intangible assets and property, plant and equipment | (45.5) | (24.4) | [2] | (25.7) | [2] | |
Proceeds from the sale of intangible assets and property, plant and equipment | 0.9 | 1.5 | [2] | 0 | [2] | |
Acquisition of subsidiaries, net of cash acquired | (192.9) | (7.5) | [2] | (0.3) | [2] | |
Acquisition of shares in equity method investments | 0 | 0 | [2] | (1.2) | [2] | |
Cash flow used in continuing investing activities | (237.5) | (30.4) | (27.2) | |||
Cash flow used in discontinued investing activities, net | (0.6) | (1.2) | [2] | (0.9) | [2] | |
Net cash flow used in investing activities | (238.1) | (31.6) | [2] | (28.1) | [2] | |
Proceeds from capital contributions | 402.7 | 0 | [2] | 0 | [2] | |
Transaction costs related to the Company Listing | (5.9) | 0 | [2] | 0 | [2] | |
Proceeds from the issue of convertible loans | 0 | 0 | [2] | 24.4 | [2] | |
Repayments of financial liabilities to related parties | 0 | (1.3) | [2] | (25.2) | [2] | |
Proceeds from financial liabilities from related parties | 80.1 | |||||
Proceeds of financial liabilities from financial institutions | 27 | 75 | [2] | 34 | [2] | |
Repayment of financial liabilities to financial institutions | (78.5) | (30.9) | [2] | (0.1) | [2] | |
Acquisition of non-controlling interests | 0 | (4.7) | [2] | (0.4) | [2] | |
Proceeds from the recapitalization | 23.6 | 0 | [2] | 0 | [2] | |
Proceeds of other loans | [2] | 0.2 | 0 | |||
Repayment of other loans | (0.7) | 0 | [2] | (0.4) | [2] | |
Payments for lease liabilities | (19.1) | (10.1) | [2] | (7.4) | [2] | |
Interest paid | (5.9) | (3.4) | [2] | (4) | [2] | |
Cash flow from continuing financing activities | 423.3 | 24.8 | [2] | 21 | [2] | |
Cash flow used in discontinued financing activities, net | (0.5) | (7.7) | [2] | (1.2) | [2] | |
Net cash flow from financing activities | 422.8 | 17.1 | [2] | 19.8 | [2] | |
Effect of exchange rate changes on cash and cash equivalents | (1.9) | 0 | [2] | 0 | [2] | |
Change in cash and cash equivalents | (7.7) | (44.8) | [2] | (12.5) | [2] | |
Cash and cash equivalents as of October 1 | [2] | 50.7 | 95.6 | 108.1 | ||
Cash and cash equivalents as of September 30 | € 43 | € 50.7 | [2] | € 95.6 | [2] | |
[1]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations.[2]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations. |
General information
General information | 12 Months Ended |
Sep. 30, 2022 | |
General Information [Abstract] | |
General information | 1. General information SIGNA Sports United Group (hereinafter also referred to as “the Company” or “the Group”), comprises the parent company SIGNA Sports United N.V. (“SSU N.V.”), Berlin, Germany, and its direct and indirect subsidiaries. The Company is registered in the Commercial Register of the Chamber of Commerce (Kamer van Koophandel) in the Netherlands under number 82838194 with its registered office in Berlin. The address of the registered office of the Company is Kantstraße 164, Upper West, 10623 Berlin, Germany. SIGNA Sports United Group is a leading e-commerce platform for various sporting goods brands in continental Europe. Its business activities focus on the Tennis, Bike, Outdoor and Teamsport sectors. The Group markets its products mainly via various online platforms as well as through individual physical stores where customers are offered various sports and lifestyle products. Prior to December 14, 2021, SIGNA Sports United N.V. was a shell company with no active trade or business or subsidiaries and all relevant assets and liabilities as well as income and expenses were borne by SIGNA Sports United GmbH. Therefore, the comparable consolidated financial statements represent the consolidated financial statements of Signa Sports United GmbH (“SSU GmbH”) for all periods prior to December 14, 2021. For further details, see Note 3. |
Basis of preparation and genera
Basis of preparation and general principles | 12 Months Ended |
Sep. 30, 2022 | |
Basis Of Preparation And General Principles [Abstract] | |
Basis of preparation and general principles | 2. Basis of preparation and general principles These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and the interpretations of the IFRS Interpretations Committee (IFRS IC) as issued by the International Accounting Standards Board (IASB). The consolidated financial statements have been presented in euros, which is the Group's functional currency. Unless indicated otherwise, the amounts are presented in millions of euros (EUR million). Totals have been calculated on the basis of non-rounded euro amounts and may differ from a calculation based on the reported million euro amounts. These consolidated financial statements comprise a consolidated statement of financial position as of September 30, 2022 and 2021 and a consolidated statement of profit or loss and other comprehensive income, a consolidated statement of cash flows, a consolidated statement of changes in equity and notes to the consolidated financial statements for the three fiscal year ended September 30, 2022 2021 and 2020. In accordance with IAS 1.99, expenses in the income statement are presented by their nature. This method provides information about expenses arising from the main inputs that are consumed in order to accomplish the Group’s business activities. The ultimate parent company of the Group is SIGNA Retail GmbH, Vienna, Austria. The consolidated financial statements have been prepared on a basis which assumes that the Group will continue as a going concern, and which contemplates the recoverability of assets and the satisfaction of the liabilities and commitments in the normal course of business. The consolidated financial statements were authorized by management of SIGNA Sports United N.V. on February 6, 2023. Russia-Ukraine War With Russia's invasion of Ukraine, the geopolitical situation around the world intensified on February 24, 2022. The ongoing conflict in Eastern Europe and the imposed sanctions have led to significant global economic uncertainty followed by rising commodity prices and increased raw materials costs. So far, the Russia-Ukraine war has not had a material impact on the Company’s supply chain as it does not have any supply relationships with companies in this region. Nevertheless, the war has indirectly contributed to widespread macro-economic uncertainty around the world, and especially in Europe where high inflationary pressures coupled with an European energy crisis has resulted in rising energy prices for both companies and private households, increased cost of production and increased cost of materials. Consequently, this resulted in a deterioration of consumer sentiment and spending which impacted our revenue, cost of materials and adjusted EBITDA during the year. The uncertainties about the future development of the war and its impact on the global economy remain and uncertainties in the global economy could have further adverse impacts on the Group and its supply chain, future sales as well as the Group’s assets. Going Concern As an emerging growth online sports retail company, the Company is still in progress towards reaching break-even in its business. The Company is subject to a number of risks similar to those of other emerging growth online sports retail companies. These risks include, among other things, the failure to maintain or grow the Company’s revenue or business, the risks associated with expanding into new geographic markets and negative developments in global and local economic conditions within the Company’s markets as well as the capital markets. The Company´s ongoing success and ultimately the attainment of profitable operations depends on future uncertain events which include, among other things, obtaining adequate financing to fund the Company’s net working capital requirements, meet debt service requirements, and continue to expand the business through merger and acquisition activities until the Company can generate sufficient revenues to support its operating cash requirements. The Company has incurred operating losses since its inception. For the year ended September 30, 2022 the Group incurred a net loss from continuing operations of €565.7 million of which €580.0 million is related to loss from operations, resulting in an operating cash outflow of €190.5 million driven mainly by a build-up of inventories and legal fees relating to the Company listing (Refer to Note 3. DE-SPAC). As of September 30, 2022, the Company had generated an accumulated deficit of €758.3 million, and had an equity position of €617.3 million as well as short term debt obligations of €40.0 million, and financial covenants relating to quarterly minimum cash requirements of €30.0 million (which will increase to €50.0 million in June 2023) and minimum yearly adjusted EBITDA (of SIGNA Sports United GmbH as defined in the revolving facility agreement) requirements of €20.0 million which will be effective as of September 30, 2023. As of September 30, 2022, the Group had cash and cash equivalents of €43.0 million. On September 28, 2022, the Company entered into a subscription agreement (the “Subscription Agreement”) with SIGNA Holding GmbH, an affiliate of the Company’s largest shareholder SISH to issue €100.0 million aggregate principal amount of convertible bonds (the “Convertible Bonds”) to SIGNA Holding GmbH with a closing date on October 4, 2022, which was subsequently sold and transferred to our affiliate SIGNA European Invest Holding AG. The Convertible Bonds mature on October 4, 2028 and are divided into bonds in bearer form with a principal amount of €1.0 million each. The Convertible Bonds bear interest payable quarterly (“Quarterly Interest”) as well as accrued interest (“PIK Interest”). Interest is payable from October 4, 2022, at a rate of three-month EURIBOR plus 4% per annum (which will increase to 5% per annum and 6% per annum on October 4, 2026 and October 4, 2027 respectively). PIK Interest accrues from October 4, 2022 at a rate of 7% per annum (which will increase to 8% per annum and 9% per annum on October 4, 2026 and October 4, 2027, respectively) as if it were payable quarterly in arrears on each interest payment date. Bondholders may convert the Convertible Bonds at any time into fully paid ordinary shares of the Company with a nominal value of €0.12 each. The initial conversion price for the Convertible Bonds is €10.3686. Bondholders have the right to increase the principal amount of the Convertible Bonds by an additional aggregate principal amount of up to €200.0 million as of closing of the convertible bond issuance and until and including September 30, 2023 in one or more tranches with minimum denominations of €1.0 million. Subsequently, on February 6, 2023, we received commitments from our affiliate SIGNA Holding GmbH to provide us with an equity-linked funding of an additional €130.0 million. The SIGNA Holding Equity Commitment Letter provides the Company with the right to issue and sell (put right) Additional Convertible Bonds to SIGNA Holding, at the same terms and conditions as the Initial Convertible Bonds, in one or more tranches until and including September 30, 2024 for an aggregate additional principal amount of €130.0 million of newly issued convertible bonds. Simultaneously with signing the SIGNA Holding Equity Commitment Letter, we entered into an amendment agreement to the SIGNA Holding RCF I with SIGNA Holding on February 6, 2023 (the “SIGNA Holding RCF I Amendment”). The purpose of the SIGNA Holding RCF I Amendment is to provide us with a bridge financing in the amount of up to €50.0 million until the respective tranches under the Additional Convertible Bonds have been issued and settled. Any amounts drawn under the additional €50.0 million in funding available to us under the amended SIGNA Holding RCF I will be repaid by issuing Additional Convertible Bonds in accordance with the terms and conditions of the SIGNA Holding Equity Commitment Letter to SIGNA Holding. In addition, on January 26, 2023, we received waivers from the lenders under the LBBW RCF waiving the requirement to comply with the net leverage covenant through the period ending June 2024 and the minimum adjusted EBITDA covenant for the testing period ending on September 30, 2023 and maintaining the available liquidity covenant at €30.0 million for each testing date after March 31, 2023. Furthermore, management plans to refocus on its core markets where it has established infrastructure and strong competitive positions, adjust its commercial and operating models to focus on efficiency and deliver transaction synergies such as procurement synergies and cross selling of its own brands. The net proceeds from the Convertible Bonds and the revolving credit facilities are utilized to fund working capital needs, capital expenditures and general corporate purposes. The Company is convinced that its cash and cash equivalents will be sufficient to fund its planned operating cash requirements for the next twelve months from the date of issuance of these financial statements. The accompanying consolidated financial statements for the year ended September 30, 2022 have therefore been prepared on a going concern basis also taking into consideration the plans described above. This contemplates the Company will continue in operation for the foreseeable future and will be able to realize its assets and discharge its liabilities in the normal course of operations. The audited consolidated financial statements do not reflect any adjustments relating to the recoverability and classification of assets or the amounts and classification of liabilities that would be necessary, was the Group unable to continue as a going concern. |
DE-SPAC
DE-SPAC | 12 Months Ended |
Sep. 30, 2022 | |
Reverse Recapitalization [Abstract] | |
DE-SPAC | 3. DE-SPAC On June 10, 2021, Yucaipa Acquisition Corporation (“Yucaipa”), SIGNA Sport United GmbH (“SSU GmbH”), SIGNA Sport United N.V. (formerly known as SIGNA Sports United B.V.), (“SSU N.V.”) Olympics I Merger Sub, LLC (“Merger Sub”) and SIGNA International Sports Holding GmbH entered into a Business Combination Agreement, contemplating several transactions, and in connection with which, Yucaipa would be merged with and into Merger Sub, with Merger Sub as the surviving company, SIGNA Sport United N.V. would be the ultimate parent company of SSU GmbH and SSU GmbH would consummate the acquisition of Mapil TopCo Limited (“Wiggle Group”) (altogether: “Business Combination”). SSU N.V. was incorporated for the purpose of holding Merger Sub, SSU GmbH and Wiggle Group following the consummation of the Business Combination which occurred on December 14, 2021. Ordinary shares and warrants issued by SSU N.V. are listed on the New York Stock Exchange. The merger of Yucaipa constituted a transaction by SSU N.V., which is accounted for within the scope of IFRS 2 as a “reverse recapitalization”. As part of the transaction, former shareholders of Yucaipa (public shareholders, sponsors and directors) received 12,584,315 shares of SSU N.V. and 17,433,333 warrants (“SSU Warrants”) to purchase ordinary shares of SSU N.V. In exchange, SSU N.V. received the net assets held by Yucaipa, which had a fair value of €7.3 million upon closing of the transaction on December 14, 2021. The net assets included €23.6 million of cash and cash equivalents held in Yucaipa trust account, current liabilities of €5.7 million and €10.6 million deferred underwriting commissions. Upon closing of the Yucaipa Merger, Yucaipa Warrants were converted into SSU Warrants. In accordance with IFRS 2, the difference between the fair value of the net assets contributed by Yucaipa and the fair value of equity instruments provided to former Yucaipa shareholders is treated as an expense, resulting in an €121.9 million share listing expense classified within the other operating expenses (see Note 6.5 and 6.7). The 17,433,333 SSU Warrants give the holder the right, but not the obligation, to subscribe to SSU N.V.'s shares at a fixed or determinable price for a specified period of time subject to the provision of the Warrant Agreement. Due to an option of cashless exercise of the SSU Warrants, which gives SSU N.V. a choice over how the warrant is settled with a settlement alternative, that results in SSU N.V. delivering a variable number of shares. Therefore, the SSU Warrants are accounted for as financial liabilities through profit and loss. SSU N.V. raised an additional €402.7 million in net equity proceeds through a private placement of ordinary shares with existing shareholders of SSU GmbH and Yucaipa as well as new investors (“PIPE Financing”). The PIPE Financing is treated as a capital contribution, which resulted in increases of €11.6 million and €391.1 million to share capital and capital reserve, respectively. Both the Yucaipa Merger and PIPE Financing closed as of December 14, 2021. Upon consummation of the transactions, SSU N.V. became a publicly traded corporation on the New York Stock Exchange under the ticker SSU. The SSU Warrants are traded under the ticker SSU.WS. SSU N.V. incurred incremental transaction costs directly attributable to the issuance of new shares to Yucaipa shareholders and the PIPE Financing of €5.9 million, which it netted against the equity proceeds as a reduction in capital reserve. SSU N.V. also amended existing share-based compensation agreements held by employees of SSU GmbH prior to the Yucaipa Merger, in addition to making additional cash and share-based payments to key management personnel (see Note 7.12). |
Effects of new IFRS applicable
Effects of new IFRS applicable for the first time and in future periods | 12 Months Ended |
Sep. 30, 2022 | |
Applicability Of Accounting Standards [Abstract] | |
Effects of new IFRS applicable for the first time and in future periods | 4. Effects of new IFRS applicable for the first time and in future periods Standards to be applied in future periods The new and amended standards and interpretations that have been published, but not yet effective, are disclosed below. The Group intends to adopt these new and amended standards and interpretations, if applicable, when they become effective. Standard / Interpretation Effective date IFRS 17 Insurance Contracts 1/1/2023 Disclosure of Accounting Policies (Amendments to IAS 1 and IFRS Practice Statement 2) 1/1/2023 Definition of Accounting Estimate (Amendments to IAS 8) 1/1/2023 The amendments to the standards and interpretations presented are expected to have only an insignificant impact on the consolidated financial statements and are therefore not discussed further. Standards applied for the first time in the current financial statements The following standards and interpretations were applied for the first time to these consolidated financial statements. Standard / Interpretation Interest Rate Benchmark Reform – Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16) COVID-19-Related Rent Concessions beyond 30 June 2021 (Amendment to IFRS 16) Onerous Contracts – Cost of Fulfilling a Contract (Amendments to IAS 37) Annual Improvements to IFRS Standards 2018-2020 Property, Plant and Equipment: Proceeds before Intended Use (Amendments to IAS 16) Reference to the Conceptual Framework (Amendments to IFRS 3) Interest Rate Benchmark Reform The amendments were due to the interest rate benchmark reform – Phase 2. Cases of application for the amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16, which are now also applicable in the European Union, arise when the contracting parties to financial instruments agree to replace one reference interest rate with another reference interest rate as a result of the IBOR reform or when contract amendments become effective due to so-called fallback clauses on the occasion of IBOR reform. COVID-19-Related Rent Concessions The pronouncement amended IFRS 16 Leases to provide lessees with an exemption from assessing whether a COVID-19-related rent concession is a lease modification. On issuance, the practical expedient was limited to rent concessions for which any reduction in lease payments affects only payments originally due on or before 30 June 2021. Since lessors continue to grant COVID-19-related rent concessions to lessees and since the effects of the COVID-19 pandemic are ongoing and significant, the IASB decided to look into whether to extend the time period over which the practical expedient is available for use. Onerous Contracts – Cost of Fulfilling a Contract (Amendments to IAS 37) The changes in Onerous Contracts — Cost of Fulfilling a Contract (Amendments to IAS 37) specify that the ‘cost of fulfilling’ a contract comprises the ‘costs that relate directly to the contract’. Costs that relate directly to a contract can either be incremental costs of fulfilling that contract (examples would be direct labor, materials) or an allocation of other costs that relate directly to fulfilling contracts (an example would be the allocation of the depreciation charge for an item of property, plant and equipment used in fulfilling the contract). Annual Improvements to IFRS Standards 2018-2020 The IASB's annual improvements project provides a streamlined process for dealing efficiently with a collection of amendments to IFRS standards. Amendments are made through the annual improvements process when the amendment is considered non-urgent but necessary. In the cycle between 2018-2020 amendments to the following four standards have been made: IFRS 1 (First-time Adoption of International Financial Reporting Standards) Subsidiary as a first-time adopter. The amendment permits a subsidiary that applies paragraph D16(a) of IFRS 1 to measure cumulative translation differences using the amounts reported by its parent, based on the parent’s date of transition to IFRSs. IFRS 9 (Financial Instruments) Fees in the ‘10 per cent’ test for derecognition of financial liabilities. The amendment clarifies which fees an entity includes when it applies the ‘10 per cent’ test in paragraph B3.3.6 of IFRS 9 in assessing whether to derecognize a financial liability. An entity includes only fees paid or received between the entity (the borrower) and the lender, including fees paid or received by either the entity or the lender on the other’s behalf. IFRS 16 (Leases) The amendment to Illustrative Example 13 accompanying IFRS 16 removes from the example the illustration of the reimbursement of leasehold improvements by the lessor in order to resolve any potential confusion regarding the treatment of lease incentives that might arise because of how lease incentives are illustrated in that example. IAS 41 (Agriculture) Taxation in fair value measurements. The amendment removes the requirement in paragraph 22 of IAS 41 for entities to exclude taxation cash flows when measuring the fair value of a biological asset using a present value technique. This will ensure consistency with the requirements in IFRS 13. Property, Plant and Equipment: Proceeds before Intended Use (Amendments to IAS 16) Property, Plant and Equipment — Proceeds before Intended Use (Amendments to IAS 16) amends the standard to prohibit deducting from the cost of an item of property, plant and equipment any proceeds from selling items produced while bringing that asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Instead, an entity recognizes the proceeds from selling such items, and the cost of producing those items, in profit or loss. Reference to the Conceptual Framework (Amendments to IFRS 3) The changes in Reference to the Conceptual Framework (Amendments to IFRS 3): • update IFRS 3 so that it refers to the 2018 Conceptual Framework instead of the 1989 Framework; • add to IFRS 3 a requirement that, for transactions and other events within the scope of IAS 37 or IFRIC 21, an acquirer applies IAS 37 or IFRIC 21 (instead of the Conceptual Framework) to identify the liabilities it has assumed in a business combination; • add to IFRS 3 an explicit statement that an acquirer does not recognize contingent assets acquired in a business combination. |
Summary of significant accounti
Summary of significant accounting judgements, estimates, and significant accounting policies | 12 Months Ended |
Sep. 30, 2022 | |
Accounting Polices [Abstract] | |
Summary of significant accounting judgements, estimates, and significant accounting policies | 5. Summary of significant accounting judgements, estimates, and significant accounting policies 5.1. Significant accounting judgements and estimates Th e preparation of the consolidated financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of income, expenses, assets and liabilities, and the accompanying disclosures. Actual results could differ from those estimates. Estimates and underlying assumptions are reviewed on an ongoing basis and revisions of estimates are recorded prospectively. Judgements Information about judgements made in applying accounting policies that have the most significant effects on the amounts recognized in the consolidated financial statements is included hereinafter: Leases The Group exercises judgement in determining the lease term as the non-cancellable term of the lease, together with the impact of options to extend or terminate the lease if it is reasonably certain to be exercised. The Group assesses whether it is reasonably certain to exercise the option to renew. In doing so, management considers all relevant factors that create an economic incentive for it to exercise the renewal. After the commencement date, management reassesses the lease term if there is a significant event or change in circumstances that is within its control and affects its ability to exercise the option to renew. Further information can be found in Note 7.4. CGUs / Goodwill Significant judgement is required by the Group for the determination of the cash generating units (CGUs) and the allocation of goodwill related to business combinations. Synergies are expected to be realized across the whole group from the expansion of existing business activities. Therefore, goodwill is allocated to the CGU groups Internetstores, Wiggle, Publikat, Tennis EU, Tennis US and OUTFITTER, Teamsport & Ballside. Further information can be found in Note 7.2. Share based payments On the grant date of each share-based payment agreement, judgement is required by the Group regarding the probability of the occurrence of future non-market conditions. The Group assesses the likelihood of meeting future non-market conditions on a case-by-case basis. In case the fulfillment of non-market conditions is more likely than not, the Group recognizes share based payments in accordance with IFRS 2. Further information can be found in Note 7.12. Yucaipa Warrants The Group exercises judgement in determining whether the Yucaipa Warrants were assumed as part of the DE-SPAC Transaction and, consequently, whether the assumption of such warrants constitutes a liability if those warrants are classified as financial liabilities in accordance with IAS 32. The Group assessed the specific facts and circumstances of the DE-SPAC Transaction and the terms and conditions of all associated agreements, including the Warrant Assignment, Assumption and Amendment Agreement, in making this determination. Accordingly, the Group concluded that the Yucaipa Warrants were assumed as part of the DE-SPAC Transaction and replaced with SSU Warrants. The SSU Warrants are accounted for as financial liabilities in accordance with IAS 32. Further information can be found in Note 3. Related parties Familie Benko Privatstiftung, a trust incorporated under Austrian law which has an independent management board which controls its own succession, is the ultimate beneficial owner of the shares held in SSU N.V by SIGNA International Sports Holding GmbH (SISH) in accordance with applicable US securities laws and SEC regulations. The trustors are Mr. René Benko and Ms. Ingeborg Benko and the members of the management board are Dr. Dieter Spranz, Dr. Marcus Mühlberger and Ms. Karin Furhmann. As of September 30, 2022, Familie Benko Privatstiftung indirectly holds interest in the SSU N.V through multiple holding companies also involving other minority shareholders. In assessing SSU N.V’s related party relationships, management exercised judgement in determining the Company’s ultimate controlling party in accordance with IAS 24.13 and concluded that neither Familie Benko Privatstiftung, nor its trustors René Benko or Ingeborg Benko are considered the ultimate controlling party of SIGNA Sports United. In reaching this conclusion, management took into consideration the governance structure of the Familie Benko Privatstiftung which holds an indirect interest in the SSU N.V as well as other contractual relationships at multiple shareholder levels. As a result of the analysis, management concluded that Familie Benko Privatstiftung was an investor with significant influence and that SIGNA Retail GmbH was the ultimate controlling party of SSU N.V as of September 30, 2022. Further information can be found in Note 13. Key assumptions and sources of significant estimation uncertainty Some accounting and valuation methods require estimates to be made on the basis of complex and subjective judgements using assumptions, including for matters which are inherently uncertain and subject to change. These accounting estimates may change from period to period and have a significant effect on income, expenses and results, as well as the financial position and cash flows. Accounting estimates may also include estimates where management could reasonably have made a different estimate in the current accounting period compared to prior periods. Even though these estimates and assumptions were made to the best of management’s knowledge, actual results may differ. Estimates and assumptions are reviewed on an ongoing basis. Changes in estimates and assumptions are recognized in the period in which the changes first occur and for future periods affected by the changes. Management expressly points out that future events often deviate from forecasts and that estimate must be adjusted regularly. Impairment of goodwill Goodwill is not amortized but is tested for impairment at least annually and whenever there is an indication that goodwill may be impaired. For the purpose of impairment testing, goodwill is allocated to each CGU or group of CGUs expected to benefit from the synergies of the business combination. The assessment of impairment is based on management’s judgement, in particular with regard to expected future discounted cash flows. The assessment of discounted future cash flows is based on key assumptions regarding revenues, costs and discount rates, as well as assumptions regarding future product portfolios, market penetration, market developments, the success of the integration of the acquired businesses and growth . Although the current assumptions (see Note 7.2) are considered reasonable and appropriate by management, a change in the assumptions may have a material impact on the items reported in the financial statements and result in the recognition of impairment losses or reversals of impairment losses in future periods. Impairment of intangible assets with indefinite useful lives Intangible assets with indefinite useful lives are not amortized but are tested for impairment at least annually and whenever there is an indication that the asset may be impaired. If there is an indication of impairment, the recoverable amount of those assets is determined by assessing the higher of the fair value less cost of disposal of the individual asset and the value in use for the CGU to which the intangible assets belongs. Although the current assumptions (see Note 7.2) are considered reasonable and appropriate by management, a change in the assumptions may have a material impact on the items reported in the financial statements and result in the recognition of impairment losses or reversals of impairment losses in future periods. Further information on the impairment test and subsequent measurement of goodwill and assets with indefinite useful lives is provided in Note 7.2 Business combinations As a result of business combinations, SIGNA Sports United Group has reported goodwill in the consolidated statement of financial position. In a business combination, all identifiable assets, liabilities and contingent liabilities acquired are recognized at their fair values on the acquisition date. One of the most important estimates relates to the determination of the fair value of these assets, liabilities and contingent liabilities. In order to assess purchase price allocations, management of SIGNA Sports United Group uses appropriate valuation techniques to determine the fair value of the acquired assets, liabilities and contingent liabilities. These valuations are dependent on assumptions and assessments made by management (and supported by third party experts where deemed necessary) with regard to the future development of the assets concerned and changes in discount rates. Leases When accounting for leases under IFRS 16, certain assumptions and estimates are made by management, in particular when determining the discount rate (incremental borrowing rate). Further information can be found in Note 7.4. Revenue A particular degree of judgement is required in determining sales deductions for returns from customers, which are mainly estimated on the basis of experience from specific contractual obligations. The estimate of return rates or revocation rates results from the assessment of actual empirical observations, such as historical sales channel-related return rates. Further information can be found in Note 6.1. Critical judgments and accounting estimates The accounting policies that most frequently or significantly requires the Group to make judgments, estimates and assumptions and therefore are critical to understand our results of operations include the following, which are explained in the respective accounting policies below: • Revenue recognition Estimates and assumptions are required in determining sales deductions for returns from customers, which are mainly estimated on the basis of experience from specific contractual obligations. • Business combinations One of the most important estimates relates to the determination of the fair value of these assets, liabilities and contingent liabilities. Management of SIGNA Sports United Group uses appropriate valuation techniques to determine the fair value of the acquired assets, liabilities and contingent liabilities. These valuations are dependent on assumptions and assessments made by management with regard to the future development of the assets concerned and discount rates applied (see Note 15). • Impairment of goodwill and assets with indefinite useful lives The assessment of impairment is based on discretionary decisions by management, in particular in regard to assumptions for revenue growth, discount rates and EBITDA (which is defined as consolidated net income (loss) before interest, income taxes, depreciation, and amortization) plus impairment. 5.2. Significant accounting policies Measurement The consolidated financial statements have been prepared on a historical cost basis, except for certain items such as derivative financial instruments, hedging transactions and pensions and similar obligations. The basis of measurement for these exceptions is described in the respective paragraphs below. Principles of consolidation The consolidated financial statements include the financial statements of SIGNA Sports United N.V. and the financial statements of all subsidiaries directly or indirectly controlled by SIGNA Sports United N.V.. Control exists only if the parent company has power of disposal over the subsidiary, is exposed to positive and negative returns and is in a position to influence the level of variable returns based on voting or other rights. The Group’s interests in equity-accounted investees comprises joint ventures, namely Teamstolz GmbH and AEON SIGNA Sports United Co., Ltd.. A joint venture is an arrangement in which the Group has joint control, whereby the Group has rights to the net assets of the arrangement, rather than rights to its assets and obligations for its liabilities. Interests in the joint venture are accounted for using the equity method. They are initially recognized at cost, which includes transaction costs. Subsequent to initial recognition, the consolidated financial statements include the Group’s share of the profit or loss and other comprehensive income of equity accounted investees, until the date on which significant influence or joint control ceases. The financial statements of the consolidated subsidiaries included in the consolidated financial statements are generally prepared as of the balance sheet date of the parent entity. The financial statements of SIGNA Sports United N.V. and its subsidiaries included in the consolidated financial statements are prepared in accordance with uniform accounting policies. All intercompany assets and liabilities, equity, income and expenses, as well as cash flows from transactions between the consolidated companies are eliminated in full as part of the consolidation process. Acquisitions of companies that are not under common control are accounted for using the purchase method in accordance with IFRS 3 at the time of acquisition. Changes in shareholdings in Group companies which reduce or increase the shareholding of SIGNA Sports United N.V. without loss of control are accounted for as equity transactions between owners. Foreign currency Transactions in foreign currencies are initially recognized in the functional currency by applying the spot rate prevailing at the time of the transaction to the foreign currency amount. Resulting currency gains and losses from currency translation are directly reported in the consolidated statement of profit or loss within the “ Finance income and Finance costs”. Differences arising from the translation of the financial statements of companies outside the euro zone are reported under equity in accordance with IAS 21 and reclassified to the consolidated statement of profit or loss when the gain or loss on disposal of SIGNA Sports United Group is recognized. The financial information of the companies included in the scope of consolidation of SIGNA Sports United Group, whose functional currency is not the euro, is translated into the reporting currency of the consolidated financial statements as of the balance sheet date. Closing rates are used for the translation of the Financial Position, while average rates for the reporting period are used for the translation of the consolidated statement of profit or loss and other comprehensive Income. Non-monetary items that are measured based on historical cost in a foreign currency are translated at the exchange rate at the date of the transaction. Business combinations Business combinations that are not carried out under common control are accounted for using the acquisition method in accordance with IFRS 3 at the time of the acquisition. Acquisition costs are determined at the fair value of the assets given and liabilities taken over as well as on the basis of agreed contingent consideration at the time of acquisition. Incidental acquisition costs are expenses in the reporting period. Identifiable assets acquired and liabilities assumed in a business combination (including contingent liabilities) are initially measured at their fair values at the acquisition date, irrespective of non-controlling interests. A positive difference between the acquisition cost including the fair value of the non-controlling interest and the acquired assets and liabilities is recognized as goodwill. SIGNA Sports United N.V. applies the full goodwill method by way of business combination. In the case of acquisitions concluded in stages, the fair values of the assets and liabilities of the acquired company are measured in accordance with IFRS 3 “Business Combinations” on the date on which the control is obtained. Resulting adjustments to the fair value of the existing shares are recognized in the consolidated statement of profit or loss. The carrying amount of the assets and liabilities already recognized in the consolidated statement of financial position is adjusted accordingly. The application of the acquisition method requires certain estimates and assumptions, especially with regard to the fair values of the acquired intangible assets, property, plant and equipment and liabilities assumed at the time of acquisition, as well as the useful lives of the acquired intangible assets and property, plant and equipment. The valuation is primarily based on expected cash flows. If the actual cash flows differ from those used in the calculation of fair values, this may have a material impact on future operating results. The valuations are based on the information available at the time of acquisition. The valuation of the indefinite life intangible assets is based on the relief from royalty method at the time of the acquisition. Discontinued operations A discontinued operation is a component of an entity that either has been disposed of, or that is classified as held for sale. It must either: represent a major separate line of business or geographical area of operations; be part of a single coordinated disposal plan; or be a subsidiary acquired exclusively with a view to resale. Intercompany transactions between continuing and discontinued operations are eliminated against continuing operations. Non-current assets and disposal groups are not classified as assets held for sale if their carrying amount is to be recovered through continuing use. In 2022, the Group decided to end its Stylefile business activities during the fourth quarter of 2022. The Group assessed that ending the activities of Stylefile within Publikat would qualify as a discontinued operation. Therefore, the profit or loss related to the Stylefile business is presented in a separate line item of the consolidated profit and loss section of the statements of profit or loss and other comprehensive income and consolidated statements of cash flow for the year ended September 30, 2022, 2021 and 2020. The segment reporting note and notes to the consolidated financial statements for the years ended September 30, 2022, 2021 and 2020 mainly represent continuing operations. On November 21, 2022, the Group entered into an ‘Asset Sale and Purchase Agreement - ASPA’ to sell specific assets (mainly inventories, trademarks/domains and customer relationships) from its discontinued Stylefile business. The expected closing date of this agreement is July 31, 2023. For the period from November 1, 2022, until the closing date July 31, 2023, a ‘Transitional Service Agreement - TSA’ has been signed with the purchaser. According to the TSA, Publikat will resume the operations of Stylefile on behalf of the buyer until the transaction is finalized on the expected closing date of July 31, 2023. Accordingly, the Group no longer bears the economic risk or the profits/losses from the sales activities for Stylefile as of November 1, 2022. Goodwill and assets with indefinite useful lives Groups of CGUs to which goodwill has been allocated are tested for impairment annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the CGU or group of CGU is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit. An impairment loss recognized for goodwill is not reversed in a subsequent period. Intangible assets with an indefinite useful life are tested for impairment at least annually and whenever there is an indication that the asset may be impaired. If there is an indication of impairment, the recoverable amount is determined for the CGU to which the intangible asset belongs. If the recoverable amount of the CGU is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any intangible assets with an indefinite useful life allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit or whichever method reflects best the impairment. If an indication arises that the reasons for impairment no longer exist, a review is carried out to determine whether a reversal of the impairment loss is required in whole or in part. Therefore, the carrying amount is written up to the recoverable amount, but not higher than the amortized cost of the asset, as if no impairment had taken place. Further information can be found in Note 7.2. Intangible assets Acquired intangible assets are initially measured at cost, whereas intangible assets acquired in a business combination are measured at fair value. After initial recognition, intangible assets are accounted for using the cost model. Amortization of intangible assets with finite useful lives is calculated using the straight-line method. The estimated useful life and the amortization method are reviewed annually at the end of the reporting period and any changes in the useful life are accounted for prospectively. Amortization of intangible assets is recognized in the consolidated statement of profit or loss. For further information on intangible assets, please see Note 7.1. Besides scheduled amortization, an impairment test is performed if relevant events or changes in circumstances indicate that intangible assets may be impaired. If the carrying amount of an intangible asset exceeds its recoverable amount, the intangible asset is impaired. An impairment loss is recognized in the amount by which the carrying amount exceeds the recoverable amount. Assets are grouped at the lowest levels for which there are separately identifiable cash inflows which are largely independent of the cash inflows from other assets or groups of assets (CGUs). If the reasons for impairment no longer exist, the impairment loss is reversed up to the amortized cost of the intangible asset. Costs for internally generated intangible assets are capitalized in the consolidated statement of financial position, provided that these costs can be clearly assigned to the development phase and where the following criteria are met: • it is technically feasible to complete the intangible asset so that it will be available for use • management intends to complete the intangible asset and use or sell it • there is an ability to use or sell the intangible asset • it can be demonstrated how the intangible asset will generate probable future economic benefits • adequate technical, financial and other resources to complete the development and to use or sell the intangible asset are available, and • the expenditure attributable to the intangible asset during its development can be reliably measured. The estimated useful lives of intangible assets are as follows: Intangible assets Average useful life Software 3 - 8 years Customer relationships Lower of the contract term and the useful economic life Internally developed 3 - 5 years Other intangible assets 3 - 5 years Intangible assets with indefinite useful lives mainly relate to acquired brands and Internet domains. An analysis of product life cycle studies and market and competitive trends provides evidence that brands and Internet domains will generate appropriate revenues for the Group for an indefinite period. Gains or losses arising from derecognition of intangible assets are recognized based on the difference between the net realizable value and the carrying amount of the intangible asset. The gain or loss is recognized in the consolidated statement of profit or loss in the period in which the intangible asset is derecognized. Property, plant and equipment Property, plant and equipment is measured at cost less accumulated depreciation and impairment losses. The cost of property, plant and equipment consists of expenses that must be incurred to acquire an asset and bring it to working condition. Subsequent costs, including repair and maintenance costs, are only recognized as part of the cost of an existing asset or, if applicable, as a separate asset, if it is probable that SIGNA Sports United Group will receive the future economic benefits attributable to the asset and the cost of the asset can be measured reliably. Expected future expenses for the removal of tenant fixtures upon the future termination of rental contracts are capitalized and depreciated through the expected rental term. All other expenses (e.g. for ongoing repairs and maintenance) are expensed as incurred. Property, plant and equipment is depreciated on a straight-line basis over the following useful lives: Property, plant and equipment Average useful life Buildings Up to 40 years Technical facilities and machines 4 - 13 years Other facilities, operating and business equipment 3 - 10 years Leasehold improvements Shorter of useful life and the term of the underlying lease In addition to depreciation and amortization, an impairment test is carried out and, if necessary, an impairment loss is recognized if there are relevant events or changes in circumstances that indicate that an impairment of property, plant or equipment may have occurred. Property, plant and equipment is derecognized from the accounts either at the time of disposal or when no further economic benefit is derived from the respective items. Gains or losses on disposal or retirement are recognized in the consolidated statement of profit or loss in the period in which they arise. Remaining carrying amounts and estimated useful lives as well as depreciation methods are reviewed annually and adjusted, if necessary. Right of return For certain categories of goods customers have a right to return these goods within a specified period. Return allowances, which reduce net revenues, are estimated based on historical experiences. The Group updates its estimates on a quarterly basis. For goods that are expected to be returned from the customers, the Group recognizes a refund liability (included in other current liabilities in the consolidated statement of financial position). The liability is measured at the amount the Group ultimately expects it will have to return to the customer. A right of return asset (included in Inventories in the consolidated statement of financial position) and corresponding adjustment to cost of sales is also recognized for the right to recover products from the customers. Leases The Group assesses at contract inception of the lease whether a contract is, or contains a lease. The Group recognizes a right-of-use asset and a corresponding lease liability for all leases where the Group is the lessee. The Group elected to apply an exemption for low value leases as well as short-term leases in accordance with IFRS 16. Lease payments associated with low value leases and short-term leases are expensed on a straight-line basis over the lease term. Accordingly, no right of use assets or lease liabilities are recognized. Upon initial recognition, the lease liability is measured at the present value of the lease payments not yet paid at the inception of the lease and is discounted on the basis of the interest rate underlying the lease. If this interest rate cannot be readily determined, the Group uses its incremental borrowing rate. The following lease payments are included in the measurement of the lease liability: • Fixed lease payments (including de facto fixed payments), less incentive payments to be received; • Variable lease payments based on an index or price, initially measured at the index or price at the inception of the lease; • Expected payments by the lessee due to residual value guarantees; • Exercise prices of purchase options if the lessee is reasonably certain that these will be exercised; and • Penalties for the premature termination of leases, if the term of the lease is based on the exercise of the right to terminate the lease. Subsequent measurement of the lease liability is made by increasing the carrying amount by the interest on the lease liability (using the effective interest method) and reducing the carrying amount by the lease payments made. In the following cases, the Group remeasures the lease liability and adjusts the corresponding right-of-use asset accordingly: • There has been a change in the lease term or there is a significant event or significant change in circumstances that results in a change in judgement with respect to the exercise of a purchase option. In this case, the lease liability is remeasured by discounting the adjusted lease payments at a revised discount rate. • The lease payments change due to index or exchange rate changes or due to a change in the expected payment to be made on the basis of a residual value guarantee. In these cases, the lease liability is remeasured by discounting the adjusted lease payments at an unchanged discount rate, unless the change in the lease payments is attributable to a change in a variable interest rate. In this case, an updated interest rate is to be applied. • A lease is amended and the amendment to the lease is not recognized as a separate lease. In this case, the lease liability is remeasured on the basis of the term of the amended lease by discounting the amended lease payments at an updated interest rate at the effective date of the amendment. Right-of-use assets are generally amortized over the term of the lease. However, if the useful life of the underlying asset is shorter than the term of the lease, the right-of-use asset shall be amortized over that period accordingly. This also applies in cases where a lease transfers ownership of the leased asset or where the Group deems the exercise of a purchase option agreed under the lease to be sufficiently certain and the exercise price is therefore already included in the cost of the right-of-use asset. Depreciation begins at the beginning of the lease. To assess the need for an impairment of a right-of-use asset, the Group applies IAS 36 and recognizes all impairment losses as described in the accounting policies for property, plant and equipment. Share-based Payment IFRS 2 “Share-based Payment” is applied in accounting for share-based payment schemes involving employees and other participants who render the respective services. In the case of equity-settled share-based payment, services are provided as consideration for equity instruments. The fair value of the services is determined at the grant date by reference to the fair value of the equity instruments. The fair value is recognized over the vesting period as personnel expenses with a corresponding increase in equity. The fair value of equity instruments is determined using valuation models such as the Black-Scholes formula or a Monte Carlo model. In the case of cash-settled shared-based payments a liability is recognized for the fair value of the cash-settled transaction. Fair value A number of accounting policies and disclosures of SIGNA Sports United Group require the measurement of fair values for both financial and non-financial assets and liabilities. The valuation of assets and liabilities at fair value is based on the three-level “fair value hierarchy” or “level hierarchy” in accordance with IFRS 13 and the proximity of the valuation factors used to an active market. An active market is a market in which homogeneous products are traded, in which interested buyers and sellers can be found at any time and in which prices are publicly available. On the basis of the three-level measurement hierarchy, certain assumptions and estimates of management were used, in particular with regard to assets and liabilities at fair value, which were classified to Levels 2 and 3: Level 1: Quoted prices (unadjusted) in active markets for identical assets and liabilities. Level 2: Quoted prices other than those included in Level 1 that are observable, directly or indirectly, for the asset or liability. The fair value of Level 2 financial instruments is determined on the basis of the conditions prevailing at the end of the reporting period, such as interest rates or exchange rates, and using recognized models such as discounted cash flow or option pricing models. Level 3: Inputs for the asset or liability that are not based on observable market data (unobservable inputs). The fair value of Level 3 financial instruments was determined by reference to individual default expectations; these are based to a large extent on the Group’s assumptions regarding the creditworthiness of the counterparty. If the parameters used to determine the fair value of an asset or liability fall into different levels of th |
Notes to the Consolidated state
Notes to the Consolidated statements of Profit and Loss and Other Comprehensive Income | 12 Months Ended |
Sep. 30, 2022 | |
Profit or loss [abstract] | |
Notes to the Consolidated statements of Profit and Loss and Other Comprehensive Income | 6. Notes to the Consolidated statements of Profit and Loss and Other Comprehensive Income 6.1. Revenue September 30, EUR million 2022 2021 2020 Revenue from the sale of merchandise 1,055.6 813.1 643.0 Revenue from the sale of services 7.2 0.6 1.4 Total 1,062.8 813.7 644.4 The business activities of Tennis, Bike & Outdoor as well as Teamsport are managed globally, which includes activities in Germany (D), Austria (A) and Switzerland (CH), in United Kingdom, United States of America and France. In the presentation of geographical information, segment revenues were determined based on the geographical location of the customer. Information on major customer Revenues from one single customer do not exceed 10% of the revenues of SIGNA Sports United Group in the reporting period ending on September 30, 2022, 2021 and 2020.The following table shows the geographical breakdown of external revenues: EUR million Tennis Bike & Outdoor Teamsport Revenue for the year ended Sept. 30, 2022 Germany 63.3 202.8 29.4 295.6 Switzerland 8.5 66.9 4.8 80.1 United Kingdom 8.5 158.5 — 167.0 Austria 12.3 21.3 0.5 34.1 France 30.0 81.1 1.8 113.0 United States of America 87.9 15.0 — 102.9 Rest of the world 48.6 217.7 3.9 270.2 Total 259.0 763.4 40.4 1,062.8 The geographical information on segment revenues from the previous years is broken down as follows: EUR million Tennis Bike & Outdoor Teamsport Revenue for the year ended Sept. 30, 2021 Germany 59.7 188.5 30.3 278.5 Switzerland 7.6 72.8 2.3 82.7 United Kingdom 8.1 9.9 — 18.1 Austria 11.1 22.0 1.0 34.1 France 18.6 104.7 1.9 125.3 United States of America 16.8 — — 16.8 Rest of the word 43.5 208.9 5.7 258.2 Total 165.4 607.0 41.2 813.7 EUR million Tennis Bike & Outdoor Teamsport Revenue for the year ended Sept. 30, 2020 Germany 53.9 172.4 19.7 245.9 Switzerland 6.2 74.1 — 80.3 United Kingdom 6.7 0.1 — 6.8 Austria 11.1 17.3 0.9 29.4 France 19.7 78.8 0.5 99.0 United States of America 0.2 — — 0.2 Rest of the word 27.7 154.7 0.5 182.9 Total 125.5 497.4 21.6 644.4 Refund liabilities The following table provides information about the Group’s refund liabilities from contracts with customers: September 30, EUR million 2022 2021 2020 Refund liabilities arising from right of return 13.3 10.7 10.1 6.2. Own work capitalized September 30, EUR million 2022 2021 2020 Own work capitalized 5.5 3.4 3.0 Total 5.5 3.4 3.0 Own work capitalized mainly comprises the capitalized development costs for internally generated software. 6.3. Other operating income September 30, EUR million 2022 2021 2020 Other 5.2 5.4 0.5 Total 5.2 5.4 0.5 6.4. Personnel expenses September 30, EUR million 2022 2021 2020 Wages and salaries (114.2) (70.1) (52.1) Social contribution (21.8) (15.1) (11.7) Other personnel expenses (27.3) (3.8) (2.7) Total (163.3) (89.0) (66.5) Other personnel expenses include €17.1 million share-based compensation expenses which mainly consists of a one-time IPO bonus which was awarded to all employees as well as to key management personnel as part of the Yucaipa Merger (see Note 7.12). The following table shows the annual average number of employees within SIGNA Sports United Group: September 30, 2022 2021 2020 Employees 3,623 2,492 1,914 Total 3,623 2,492 1,914 6.5. Other operating expenses September 30, EUR million 2022 2021 2020 Expenses for logistics and packaging (121.9) (81.0) (61.8) Marketing expenses (89.2) (62.7) (41.7) Expenses for warehousing, rents and similar expenses (8.2) (6.3) (9.6) Charges for payment services (18.6) (11.3) (8.5) Legal and consulting fees (64.5) (31.8) (7.1) IT expense (19.7) (14.2) (9.4) Administrative expenses (15.3) (7.3) (3.3) Temporary workers and other personnel related expenses (12.0) (11.9) (8.2) ECL allowance (2.2) (2.1) (3.9) Share listing expense (IFRS 2) (121.9) — — Other (7.7) (6.0) (3.3) Total (481.1) (234.5) (156.8) For further information regarding the €121.9 million share listing expense see Note 6.7. The increase in legal and consulting fees resulted mainly from an increase in accounting, audit and legal fees. The increase is due to both one-time expenses associated with the Yucaipa Merger and PIPE Financing as well as efforts to operate as a public company. The remaining other operating expenses increased due to the acquisitions of Wiggle Group and Tennis Express in the current financial year as well as the acquisition of Midwest in the second half of the previous financial year. 6.6. Finance income and cost September 30, EUR million 2022 2021 2020 Finance income Interest income 1.8 4.0 0.7 Other financial income 34.9 0.8 0.1 Total 36.6 4.8 0.9 Finance cost Interest expense for financial liabilities carried at amortized cost (5.7) (8.1) (7.7) Other financial expenses (15.3) (1.1) (0.1) Interest expense for lease liabilities (IFRS 16) (0.3) (0.2) (0.1) Total (21.3) (9.4) (7.9) Net finance income (costs) 15.3 (4.6) (7.1) The other financial income includes €16.4 million due to the revaluation of the warrants (see Note 6.7) as well as €16.4 million due to the revaluation of the put option liabilities for Tennis Express and Midwest Sports. Other financial expenses include currency losses of €14.9 million mainly resulting from intercompany balances and warrants revaluation. 6.7. Share listing expense and change in fair value of warrant liabilities As described in Note 3, the Yucaipa Merger led to a Share listing expense. SSU N.V. issued shares with a fair value of €110.1 million to Yucaipa shareholders, comprised of the fair value of SSU N.V. shares, that were issued to Yucaipa shareholders of €8.75 per share (Yucaipa’s closing price as of December 14, 2021). In exchange, SSU N.V received the identifiable net assets held by Yucaipa, which had a fair value upon closing of €7.3 million, comprising of investments held in Yucaipa’s trust account partly offset by current liabilities by Yucaipa, deferred underwriting commissions and financial liabilities in the amount of €19.0 million accounted for the 17,433,333 Yucaipa Warrants considering a fair value of the warrants of €1.09 per warrant (price of Yucaipa Warrants at Closing of the Yucaipa Merger in EUR; closing price in USD as the denominated currency was USD 1.24). The excess of the fair value of the equity instruments issued over the fair value of the identified net assets contributed, represents a non-cash expense in accordance with IFRS 2. This one-time expense as a result of the Yucaipa Merger, in the amount of €121.9 million, is recognized as Share listing expense in other operating expenses within the Consolidated Statement of Profit or Loss. Details of the calculation of the Share listing expense are as follows: EUR million, except per share data Shares to be issued by TopCo to Yucaipa A 12.6 Yucaipa's closing price per share as of December 14, 2021 B 8.8 Fair value of shares deemed issued (A x B) C 110.1 Yucaipa's net assets D 7.3 Fair value of the deemed issued Warrants E 19.0 Excess of Fair value of shares over Yucaipa's net assets acquired incl. Warrants (C - D + E) F 121.9 Upon closing of the Yucaipa Merger, Yucaipa Warrants were converted into SSU Warrants. The financial liability for the SSU Warrants is accounted for at fair value through profit and loss. The fair value of warrants decreased from €1.09 per warrant as of December 14, 2021 t o €0.22 per warrant as o f September 30, 2022 . The result is a decrease in fair value of warrant liabilities of €15.3 million for the period. 6.8. Income taxes Income tax benefits/(expenses) recognized in the consolidated statements of profit or loss September 30, EUR million 2022 2021 2020 Current income tax (2.0) (1.7) (0.5) Deferred income tax 28.6 0.1 2.4 Total 26.6 (1.6) 1.9 The current income tax expenses and benefits are as follows: September 30, EUR million 2022 2021 2020 Earnings before taxes (565.9) (36.2) (22.6) Expected income tax rate (of the parent company) 30.2 % 30.2 % 33.0 % Income tax benefits based on the expected income tax rate 170.8 10.9 7.4 Increase (decrease) in income tax expense due to: Differences between the company’s domestic and foreign tax rates (5.3) 0.3 (0.7) Non-deductible operating expenses (145.8) (0.5) (0.4) Effects of prior year taxes (1.6) 0.0 0.1 Non-taxable income 132.4 — — Non-recognition of deferred tax assets from temporary differences and tax loss carryforwards (13.9) (12.1) (4.0) Non-deductible share listing expenses (36.8) — — Non-deductible goodwill impairment losses (73.5) — — Other 0.3 (0.2) (0.5) Total income tax benefit (expense) on continuing operations 26.6 (1.6) 1.9 Effective tax rate (4.7 %) 4.4 % (8.2 %) The tax rate used to calculate the expected tax income corresponds to the tax rate of SIGNA Sports United NV, Berlin/Germany, and consists of the corporate tax rate including the solidarity surcharge of 15.83% (2021 and 2020: 15.83%) and a trade tax rate of 14.35% (2021: 14.35% and 2020: 17.15%). The reduction of the trade tax rate in the previous year is due to the change of the registered office from SIGNA Sports United GmbH from Munich to Berlin. 6.9. Earnings per share (“EPS”) Basic earnings/(loss) per share has been calculated by dividing the profit/(loss) for the year from continuing operations attributable to ordinary equity holders of the parent by the weighted average number of common shares outstanding during the period. Diluted loss per share is computed using the weighted-average number of outstanding shares and excludes all potential shares outstanding during the period, as their inclusion would be anti-dilutive. The Group’s potential shares consist of incremental shares issuable in relation to the Earn-out agreement entered into with SISH and Yucaipa and upon the assumed exercise of share options as well as the already granted but not yet vested employee shares as part of the one-time IPO bonus. The calculation of earnings/(loss) per share is as follows: September 30, EUR million 2022 2021 2020 Earnings Earnings for the purposes of basic earnings per share being net profit attributable equity holders of the parent entity from continuing operations (539.3) (37.7) (19.8) Number of shares in millions Weighted average number of ordinary shares for the purposes of basic earnings per share 316.5 202.5 202.5 Basic and diluted loss per share from continuing operations in EUR (1.7) (0.2) (0.1) Weighted average number of ordinary shares: September 30, in millions of shares 2022 2021 2020 Issued ordinary shares at October 1 202.5 202.5 17.3 Effect of shares issued in October 2019 — — 0.3 Effect of reorganization 45.4 — 184.9 Effect of shares issued in December 2021 67.1 — — Effect of shares issued in February 2022 0.0 — — Effect of shares issued in March 2022 1.4 — — Effect of shares issued in May 2022 0.1 — — Effect of shares issued in September 2022 0.0 — — Weighted average number of ordinary shares at September 30 316.5 202.5 202.5 The total number of ordinary shares was adjusted for the effect of the reorganization (see Note 3), which is applied retrospectively to all prior periods presented. Potential dilutive securities that are not included in the diluted per share calculations because they would be anti-dilutive are as follows: September 30, in millions of shares 2022 2021 2020 Earn-out shares 51.0 — — Employee options 0.6 1.3 — Employee RSUs 0.8 — — Board LTI RSUs 0.3 — — Convertible loan — 1.6 1.6 For the 51.0 million Earn-out shares, the 0.6 million employee options, the 0.8 million employee RSUs and the 0.3 million Board LTI RSUs the vesting conditions are not met as of September 30, 2022. |
Notes to the Consolidated Sta_2
Notes to the Consolidated Statements of Changes in Equity - EUR (€) € in Millions | 12 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | ||
Notes to the Consolidated Statement of Changes in Equity [Abstract] | ||||
Notes to the Consolidated Statements of Changes in Equity | 8. Notes to the Consolidated Statements of Changes in Equity Capital reorganization On December 14, 2021, the Group closed the previously announced Business Combination pursuant to the Business Combination Agreement, dated June 10, 2021, by and among Yucaipa Acquisition Corporation (“Yucaipa”), SIGNA Sports United GmbH (“SSU GmbH”), SIGNA Sports United N.V. (formerly known as SIGNA Sports United B.V.), (“SSU N.V.”), Olympics I Merger Sub, LLC (“Merger Sub”) and SIGNA International Sports Holding GmbH (the “Yucaipa Merger”). Therefore, the Group raised an additional €402.7 million in equity proceeds through a private placement of ordinary shares with existing shareholders of SSU GmbH, Yucaipa and other new investors (“PIPE Financing”). The PIPE Financing is treated as a capital contribution, which resulted in increases of €11.6 million and €391.1 million to share capital and capital reserve, respectively. Both the Yucaipa Merger and PIPE Financing closed on December 14, 2021. Upon consummation of the transactions, SSU N.V. became a publicly traded corporation at the New York Stock Exchange under the ticker SSU. The SSU Warrants are traded under the ticker SSU.WS. SSU N.V. incurred incremental transaction costs directly attributable to the issuance of new shares to Yucaipa shareholders and the PIPE Financing of €5.9 million, which it netted against the equity proceeds as a reduction in capital reserve. For further information see Note 3. Conversion of convertible loan During the financial year ended September 30, 2021 the following conversions of the loan into ordinary shares took place: By conversion notices dated in June 2021 all five convertible loan lenders exercised their conversion rights of the convertible loan agreements and declared to SSU GmbH the conversion of the convertible loans into new shares of SSU GmbH. As a result of the conversion: The carrying amount of the loan component in the amount of €75.4 million was reclassified to capital reserve and share capital (see below). The original equity component in the amount of €3.1 million continues to be recognized as share capital. Furthermore, on September 28, 2021, the shareholders’ meeting of SSU GmbH resolved to increase the SSU GmbH’s capital by €1.7 million. The new shares to be issued were subscribed for by the five lenders. Since the capital increase became effective upon entry in the Commercial Register at the Munich District Court on October 7, 2021 the amount of €1.7 million was not recognized in the share capital as of September 30, 2021, and therefore as of September 30, 2022. Acquisition of non-controlling interests and roll-up agreements In February 2021, the Group acquired an additional 5.11% interest in SIGNA Beteiligung I UG (haftungsbeschränkt) & Co KG, increasing its ownership from 41.83% to 46.94%. Furthermore, the Group acquired an additional 0.25% interest in SIGNA Sport Online GmbH increasing its ownership from 84.69% to 84.94%. In the same month the Group acquired an additional 1.0% interest in Tennis-Point GmbH, increasing its ownership from 88.00% to 89.00%. On July 17, 2018, the shareholders of SIGNA Sports United GmbH and the executives signed a roll-up agreement regarding their shares in SIGNA Beteiligung I UG (haftungsbeschränkt) & Co. KG. According to this agreement, the limited partnership should cease in case of an IPO of SIGNA Sports United GmbH and the shares should be exchanged into shares in the listed SIGNA Sports United Group. This roll-up agreement was renewed and modified in some parts on September 14, 2020. In particular, the roll-up shall now also apply in case of an indirect IPO of SIGNA Sports United GmbH via a special acquisition company. Further, the executives were granted the right to immediately exercise their D1-Shares for an exercise price of €441.5. On January 29, 2021, the executives exercised in total 2,909 of the 3,177 D1-Shares. By way of agreements dated May 17, 2021, among others, SSU GmbH , SIGNA International Sports Holding GmbH (SISH) and the SIGNA Sports Online GmbH (SSO)-minority shareholders have agreed, that, in connection with the transactions contemplated by the Business Combination Agreement by and among Yucaipa Acquisition Corporation, SIGNA Sports United GmbH, SIGNA Sports United B.V., Olympics Merger Sub, LLC and SIGNA International Sports Holding GmbH, dated June 10, 2021, as amended (DE-SPAC Transaction), the SSO-minority shareholders shall transfer by way of contribution in kind their respective shares directly or indirectly held in SIGNA Sport Online GmbH to the SSU GmbH against creation and subscription of new shares in SSU . GmbH. SSU GmbH is already the majority shareholder of SIGNA Sport Online GmbH. The contribution took place on September 29, 2021. SSU GmbH as well as the executives (refer to Note 7.12) also hold interests as limited partners (Kommanditisten) in BTG KG, which in turn is a shareholder of SIGNA Sport Online GmbH. In connection with the DE-SPAC transaction and immediately prior to the aforementioned contribution in kind to the SSU by transfer of the shares in SIGNA Sport Online GmbH, BTG KG shall be dissolved and the shares held by it in SIGNA Sport Online GmbH shall be transferred by way of de facto-splitting to the limited partners (Kommanditisten) of BTG KG in accordance with the dissolution and transfer agreements. By way of agreement dated June 8, 2021, among others, SSU GmbH, SISH and Rochon Holding have agreed, that, in connection with the transaction, Rochon Holding shall transfer by way of contribution in kind its shares held in SIGNA Sport Online GmbH to the SSU GmbH against creation and subscription of new shares in SSU GmbH. By way of agreement dated June 7, 2021, among others, SSU GmbH, SISH and the founder of Tennis-Point have agreed, that, in connection with the transaction, the founder shall transfer by way of contribution in kind his shares held in Tennis-Point GmbH to SSU GmbH against creation and subscription of new shares in SSU GmbH. SSU GmbH is already the majority shareholder of Tennis-Point GmbH. By way of agreement dated June 7, 2021, among others, SSU GmbH, SISH and the founder of SIGNA AppVentures have agreed, that, in connection with the transaction, the founder shall transfer by way of contribution in kind his shares held in SIGNA AppVentures GmbH to SSU GmbH against creation and subscription of new shares in SSU GmbH. SSU GmbH is already the majority shareholder of SIGNA AppVentures GmbH. Thus, the shareholders intend to further increase the share capital of SSU GmbH by additional total €2.0 million by way of a capital increase in kind against contribution of the shares held by the minority shareholders in the portfolio companies. Since the capital increase became effective upon entry in the Commercial Register at the Munich District Court on October 7, 2021 the amount of €2.0 million was not recognized in the share capital as of September 30, 2021, and therefore as of September 30, 2022. Transaction cost in the amount of €1.2 million were capitalized and deducted from the equity. The following table summarizes the effect of changes in the Group’s ownership interests: EUR million September 30, 2021 Carrying amount of non-controlling interest acquired 24.4 Consideration transferred 122.8 Thereof paid in cash 4.7 A decrease in equity attributable to owners of the Group 98.4 | |||
Other tax effects for reconciliation between accounting profit and tax expense (income) | € 0.3 | € (0.2) | € (0.5) | |
Total | 26.6 | (1.6) | [1] | 1.9 |
Tax effect of expense not deductible in determining taxable profit (tax loss) | (145.8) | (0.5) | (0.4) | |
Adjustments for current tax of prior periods | 1.6 | 0 | (0.1) | |
Non-taxable income | € 132.4 | € 0 | € 0 | |
[1]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations. |
Notes to the Consolidated Sta_3
Notes to the Consolidated Statements of Cash Flows | 12 Months Ended |
Sep. 30, 2022 | |
Disclosure Of Cash Flow Statement [Abstract] | |
Notes to the Consolidated Statements of Cash flows | 9. Notes to the Consolidated Statements of Cash flows Operating activity For fiscal year ending September 2022 the change in other non-current liabilities compromises mainly a change in the employee related liabilities. For fiscal year ending September 2021 and 2020 the change in other non-current assets consist mainly of the change in derivative financial instruments in cash flow hedge accounting. The change in other non-current liabilities compromises mainly a change in non-current provisions. Investment activity The cash outflow from the acquisition of subsidiaries in fiscal yea r 2022 resulted from the acquisition of Tennis Express and Wiggle Group, please refer to Note 15. The cash outflow from the acquisition of subsidiaries in fiscal ye ar 2021 resulted from the acquisition of Midwest Sports Supply, Inc., Cincinnati, Ohio, USA ("Midwest") for a purchase price of €7.7 million. The cash outflow from the acquisition of subsidiaries in fiscal ye ar 2020 resul ted from the acquisition of the remaining shares in System Sport GmbH for a purchase price of €0.7 million. Financing activity The total cash inflows and outflows from financing activities (continued and discontinued operations) can be reconciled with the balance sheet items as follows: EUR million Note September 30, 2022 Cash outflow Cash inflow Other Business Combination Reclass October 1, 2021 Group equity Share capital 7.11 46.5 11.6 5.6 — 11.6 17.6 Share capital- not registered — — — — — (3.6) 3.6 Capital reserve 7.11 1,335.2 (5.9) 391.1 399.6 — (8.0) 558.4 Non-current financial liabilities Liabilities to other 7.14 80.1 — 80.1 — — — Lease liabilities 7.4 123.4 (3.3) — 54.1 22.8 — 49.9 Liabilities to financial institutions 7.14 103.7 (77.6) 25.0 (1.5) 77.5 — 80.4 Other current financial liabilities Lease liabilities 7.4 20.7 (16.2) — 23.7 2.2 — 11.0 Liabilities to financial institutions 7.16 4.2 (1.0) 2.0 2.0 — — 1.3 Other loans — (0.7) — — — — 0.7 Balance 1,713.9 (104.7) 509.8 483.5 102.5 — 723.0 Financial expenses Net finance costs 6.6 (13.1) (5.9) — (7.2) — — — Profit and loss statement (13.1) (5.9) — (7.2) — — — Proceeds from Recapitalization — — 23.6 — — — — Cash flow from financing activities (110.6) 533.4 EUR million Note September 30, 2021 Cash outflow Cash inflow Other Conversion Business combinations October 1, 2020 Group equity Share capital 7.11 17.6 — — — — — 17.6 Share capital- not registered 3.6 — — 2.0 1.7 — — Capital reserve 7.11 558.4 — — 114.3 73.8 — 370.4 Non-controlling interests — (4.6) — (19.7) — — 24.4 Non-current financial liabilities Convertible loan 8 — — — 1.5 (75.4) — 73.9 Lease liabilities 7.4 49.9 (1.0) — 22.8 — 0.5 27.6 Liabilities to financial institutions 7.14 80.4 (30.5) 75.0 1.3 — — 34.6 Other current financial liabilities Financial liabilities to equity holders (including accrued interest) 12 — (1.3) — — — — 1.3 Lease liabilities 7.4 11.0 (9.5) — 12.3 — 0.2 8.0 Liabilities to financial institutions 7.16 1.3 (7.5) — (1.2) — — 10.0 Other loans 0.7 — 0.2 — — — 0.5 Balance 723.0 (54.4) 75.2 133.2 — 0.7 568.3 Financial expenses Net finance costs 6.6 (6.7) (3.6) — (3.2) — — — Profit and loss statement (6.7) (3.6) — (3.2) — — — Cash flow from financing activities (58.0) 75.2 EUR million Note September 30, 2020 Cash outflow Cash inflow Other Conversion Business combinations Oct. 1, 2019 Group equity Share capital 6.11 17.6 — — — — — 17.6 Capital reserve 6.11 370.4 — — 3.1 — — 367.3 Non-controlling interests* 24.4 (0.4) — (1.2) — — 26.0 Non-current Financial liabilities to shareholders (including accrued interest) 11 — (19.7) — — (49.9) — 69.5 Convertible loan 7 49.3 — — (0.6) 49.9 — — Convertible loan 7 24.6 — 24.4 0.2 — — — Lease liabilities 6.4 27.6 — — (3.1) — 0.4 30.3 Liabilities to financial institutions 6.14 34.6 (0.3) 32.0 (7.1) — — 10.0 Other current financial liabilities Financial liabilities to equity holders (including accrued interest) 11 1.3 (5.5) — 1.3 — — 5.5 Lease liabilities 6.4 8.0 (7.8) — 8.8 — 0.1 7.0 Liabilities to 6.16 10.0 (1.0) 2.8 7.2 — — 1.0 Other loans 0.5 (0.4) — — — — 0.9 Balance 568.3 (35.1) 59.2 8.6 — 0.5 535.1 Financial expenses Interest expenses 5.6 (8.6) (4.4) — (4.3) — — — Profit and loss statement (8.6) (4.4) 0.0 (4.3) — 0.0 0.0 Cash flow from financing activities (39.5) 59.2 |
Financial risk management
Financial risk management | 12 Months Ended |
Sep. 30, 2022 | |
Financial Risk Management [Abstract] | |
Financial risk management | 10. Financial risk management 10.1. Categories and measurement at fair value The following section provides additional information on the significance of financial instruments and on individual items of the consolidated statements of financial position and the consolidated statements of profit or loss and other comprehensive income with respect to financial instruments. The following table shows the reconciliation of the consolidated statements of financial position items to the relevant classes of financial instruments as of September 30, 2022 and 2021, broken down by the carrying amount and fair value of the financial instruments and the allocation of the consolidated statements of financial position items to the measurement categories. The financial instruments as of September 30, 2022, are as follows: EUR million Measurement category in accordance with IFRS 9 Balance sheet carrying amount as of September 30, 2022 Fair value hierarchy Fair value Financial asset Other non-current financial assets 5.1 5.1 of which with related companies and persons AC — 2 — of which from the positive fair values of derivative financial instruments in cash flow hedge accounting Hedge Accounting — 2 — of which from other financial assets AC 5.1 2 5.1 Trade receivables AC 25.1 n/a 25.1 Other current financial assets 20.1 n/a 20.1 of which from the positive fair values of derivative financial instruments in cash flow hedge accounting Hedge Accounting 1.1 2 1.1 of which from financial assets AC 19.0 n/a 19.0 Cash and cash equivalents AC 43.0 n/a 43.0 Financial liabilities Non-current financial liabilities 317.2 193.0 of which to financial institutions AC 103.7 2 101.6 of which other loans AC 0.9 2 0.9 of which from lease liabilities n/a 123.4 n/a n/a of which with related companies and persons AC 80.0 2 81.3 of which put option liabilities FVPL 5.4 2 5.4 of which from the negative fair values of derivative financial instruments in cash flow hedge accounting Hedge Accounting — 2 — of which from other financial liabilities AC — 2 — of which warrants FVPL 3.8 1 3.8 Trade payables AC 195.5 n/a 195.5 EUR million Measurement category in accordance with IFRS 9 Balance sheet carrying amount as of September 30, 2022 Fair value hierarchy Fair value Other current financial liabilities 42.4 42.4 of which to financial institutions AC 4.2 n/a 4.2 of which from lease liabilities n/a 20.7 n/a n/a of which from the negative fair values of derivative financial instruments in cash flow hedge accounting Hedge Accounting 2.3 2 2.3 of which from other financial liabilities AC 15.2 n/a 15.2 The financial instruments as of September 30, 2021, are as follows: EUR million Measurement category in accordance with IFRS 9 Balance sheet carrying amount as of September 30, 2021 Fair value hierarchy Fair value Financial assets Other non-current financial assets 1.4 1.4 of which with related companies and persons AC — 2 — of which from the positive fair values of derivative financial instruments in cash flow hedge accounting Hedge Accounting 0.0 2 0.0 of which from other financial assets AC 1.4 2 1.4 Trade receivables AC 26.3 n/a 26.3 Other current financial assets 24.0 24.0 of which from the positive fair values of derivative financial instruments in cash flow hedge accounting Hedge Accounting 0.5 2 0.5 of which from financial assets AC 23.5 n/a 23.5 Cash and cash equivalents AC 50.7 n/a 50.7 Financial liabilities Non-current financial liabilities 140.4 95.2 of which to financial institutions AC 80.4 2 85.1 of which other loans AC 0.9 2 0.9 of which from lease liabilities n/a 49.9 n/a n/a of which put option liabilities FVPL 9.3 2 9.3 of which from the negative fair values of derivative financial instruments in cash flow hedge accounting Hedge Accounting 0.0 2 0.0 of which from other financial liabilities AC — 2 — Trade payables AC 102.7 n/a 102.7 EUR million Measurement category in accordance with IFRS 9 Balance sheet carrying amount as of September 30, 2021 Fair value hierarchy Fair value Other current financial liabilities 27.7 16.7 of which to financial institutions AC 1.3 n/a 1.3 of which from lease liabilities n/a 11.0 n/a n/a of which from the negative fair values of derivative financial instruments in cash flow hedge accounting Hedge — 2 0 of which from other financial liabilities AC 15.4 n/a 15.4 The following table shows the changes in Level 3 instruments for the twelve-month period ending September 30, 2021: EUR million Earn-out Total Opening balance as of Oct. 1, 2020 0.6 0.6 Changes in fair value (0.6) (0.6) Utilization / reversal — — Closing balance as of Sept. 30, 2021 — — Significant unobservable parameters used in the Level 3 valuation at fair value of contingent assets and contingent liabilities in connection with the acquisitions of Probikeshop and Publikat are based on the contractual terms and conditions (mainly EBITDA-related performance indicators) and the related probability assessment of various scenarios for possible business development and how the current economic environment is expected to affect this. The cumulative carrying amounts of financial instruments allocated to the measurement categories of IFRS 9 as of September 30, 2022 and September 30, 2021 are as follows: EUR million Carrying amount as of September 30, 2022 Fair value as of September 30, 2022 Financial assets measured at amortized cost (AC) 92.2 92.2 Financial assets at fair value profit or loss (FVPL) — — Financial assets fair value OCI (Hedge Accounting) 1.1 1.1 Total financial assets 93.3 93.3 Financial liabilities measured at amortized cost (AC) 399.4 398.6 Financial liabilities at fair value through profit or loss (FVPL) 9.2 9.2 Financial liabilities at fair value OCI (Hedge Accounting) 2.3 2.3 Total financial liabilities 410.9 410.1 EUR million Carrying amount as of September 30, 2021 Fair value as of September 30, 2021 Financial assets measured at amortized cost (AC) 101.5 101.5 Financial assets at fair value profit or loss (FVPL) — — Financial assets fair value OCI (Hedge Accounting) 0.5 0.5 Total financial assets 101.9 101.9 Financial liabilities measured at amortized cost (AC) 197.9 202.6 Financial liabilities at fair value through profit or loss (FVPL) 9.3 9.3 Financial liabilities at fair value OCI (Hedge Accounting) — — Total financial liabilities 207.2 211.9 The fair values were determined on the basis of the market conditions prevailing at the end of the reporting period and the valuation techniques described. The fair values correspond to the prices that would be obtained for the sale of an asset or for the transfer of a liability between market participants in an arm’s length transaction. There were no material changes in the valuation methods applied compared to the previous year. Cash and cash equivalents, trade receivables and payables and other financial assets and liabilities mainly have short-term residual terms. Therefore, the carrying amounts at the end of the reporting periods correspond approximately to the fair values. In addition, an appropriate impairment loss was recognized for trade receivables if there were objective indications of impairment. The measurement and presentation of the fair values of financial instruments are based on the fair value hierarchy, which reflects the significance of the parameters used for measurement. There were no reclassifications between Level 1, L evel 2 and Level 3 in fiscal year ending September 30, 2022 and 2021. 10.2. Offsetting of financial assets and financial liabilities The table above presents gross financial assets and liabilities figures. No offset adjustments recognized. 10.3. Net gains and losses from financial instruments by measurement category in accordance with IFRS 9 The net gains and losses from financial instruments based on valuation categories according to IFRS 9 are as follows as of September 30, 2022, 2021 and 2020: September 30, EUR million 2022 2021 2020 Financial assets measured at amortized cost (AC) 1.8 1.8 0.7 Financial liabilities measured at amortized cost (AC) (5.7) (5.9) (7.6) Financial assets measured at fair value — — 0.2 Financial liabilities measured at fair value 32.8 — (0.3) Net result 28.9 (4.1) (7.0) The net result from financial instruments includes net interest income and expenses, fair value measurements and impairments. Interest expenses for financial liabilities not measured at fair value through profit or loss amounted to €5.7 million (2021: €8.1 million; 2020: €7.6 million). Interest income from impaired financial assets is insignificant, as the receipt of payment is expected in the short term in most cases. 10.4. Management of financial risks SIGNA Sports United Group is exposed to financial risks within the scope of its operating and business activities, in particular interest rate, credit, exchange rate and liquidity risks. The overall financial risks of SIGNA Sports United Group are regularly assessed and monitored in order to control and minimize the overall risk. The aim is to maintain an appropriate balance between the business risks entered and the earnings as well as to reduce financial risks. The principles and responsibilities for monitoring and controlling the risks associated with the financial instruments are determined by management. Risk management guidelines are established to identify and analyze the risks to which SIGNA Sports United Group is exposed, to set appropriate risk limits and controls and to monitor the risks and compliance with the limits. The risk management guidelines are reviewed regularly to take account of changes in market conditions and the activities of SIGNA Sports United Group. 10.5. Credit and default risks Credit risk management refers to potential losses resulting from the inability of business partners to meet their contractual obligations to SIGNA Sports United Group. The credit risk arises mainly from SIGNA Sports United Group’s receivables from its customers. In the opinion of management, the credit risk of SIGNA Sports United Group is mainly influenced by the individual characteristics of each customer. However, management also takes into account the factors which may influence the credit risk of the customer base, including the default risk associated with the respective industry. The Group’s credit risk management includes the ongoing review of receivables from contractual parties and the credit assessment of new and existing contractual partners. There are no significant market-related risk concentrations in the individual industries due to different geographical markets and customer groups. From management’s point of view, the credit risks from trade receivables are relatively low due to the need for immediate bank transfers, credit card payments, PayPal payments and advance payments. Nevertheless, the receivables are monitored on an ongoing basis. The monitoring of receivables is the responsibility of the Managing Directors of the individual subsidiaries. They are obliged to review the receivables regularly and draw up appropriate action plans. The decision on the creation of allowances is made individually by the companies. In the case of doubtful receivables, impairment losses are recognized in the amount of the default risk. If financial assets are uncollectible, they are written off in full. Please refer to Note 5.2 (Financial instruments) for more information on expected credit losses according to IFRS 9. Since the Group only cooperates with well-known credit-worthy financial institutions, expected credit losses were not recorded due to immateriality. Furthermore, these financial assets are highly liquid and flexible and therefore can be easily accessed by the Group. Due to the global activities of the Group and the associated diversification, there were no significant concentrations of risk in the past fiscal year. The following table contains information on the default risk and expected credit losses for trade receivables: September 30, 2022 EUR million Gross carrying amounts Value adjustment Low risk 20.9 (3.2) Medium risk 9.8 (2.4) Total 30.7 (5.6) Low risks exist in particular for business customers and for secured receivables. Medium risks exist when entering into transactions with private customers where no collateral exists. In the previous year, the default risk and expected credit losses were as follows: September 30, 2021 EUR million Gross carrying amounts Value adjustment Low risk 23.8 (2.5) Medium risk 7.0 (2.2) Total 30.8 (4.6) The gross carrying amount of trade receivables and the valuation adjustments developed as follows in the fiscal year ended September 30, 2022 and 2021: September 30, EUR million 2022 2021 Receivables at the beginning of the reporting period 30.8 25.8 Business combinations 1.0 0.1 Additions 26.6 27.5 Payments (26.8) (21.7) Written-off receivables (1.0) (0.9) Exchange rate differences 0.1 0.0 Receivables at the end of the reporting period 30.7 30.8 EUR million September 30, 2022 September 30, 2021 Value adjustment (ECL) at the beginning of the reporting period (4.6) (4.2) Business combinations (0.1) — Additions (1.3) (1.0) Utilization 0.1 0.5 Cancellations 0.2 0.2 Exchange rate differences — — Value adjustment (ECL) at the end of the reporting period (5.6) (4.6) The carrying amount of the financial assets plus the value adjustments (expected credit losses) recorded in the consolidated statement of financial position represents the maximum credit risk to which SIGNA Sports United Group is exposed on the balance sheet date. There were no impairments for other financial assets. 10.6. Liquidity risks Liquidity risks arise for SIGNA Sports United Group from contractual liabilities to repay debts in full and when they are due as well as from accelerated repayment of contractual liabilities before their stated maturities in certain instances. The Group’s approach to liquidity management is to ensure as far as possible that it has sufficient liquidity to meet its liabilities as they fall due, both under normal and more difficult conditions, without incurring unacceptable losses or compromising the reputation of SIGNA Sports United Group. In order to minimize this risk, incoming and outgoing payments and maturities are continuously monitored and controlled. Liquidity management includes the determination of liquidity requirements and liquidity surpluses. 10.7. Maturity analysis of financial liabilities The tables below analyze the Group’s financial liabilities into relevant maturity groups as of September 30, 2022 and 2021, respectively. The amounts disclosed in the table are the contractual undiscounted cash flows. September 30, 2022 EUR million < 1 year 1-5 years > 5 years Total undiscounted cash flows Carrying amount Financial liabilities to financial institutions 9.9 106.9 — 116.8 107.9 Lease liabilities 23.4 81.4 54.7 159.6 144.2 Other financial liabilities 18.9 93.6 — 112.5 105.3 Trade payables 194.9 0.6 — 195.5 195.5 Inflow from Hedges 29.2 — — 29.2 (2.0) Outflow from Hedges (31.2) — — (31.2) 0.0 Total 245.0 282.6 54.7 582.3 550.8 September 30, 2021 EUR million < 1 year 1-5 years > 5 years Total Carrying amount Financial liabilities to financial institutions 1.3 85.7 — 87.0 81.6 Lease liabilities 11.0 33.2 18.1 62.3 60.9 Other financial liabilities 15.4 10.1 — 25.5 25.5 Trade payables 102.7 — — 102.7 102.7 Inflow from Hedges 12.2 1.2 — 13.5 (0.4) Outflow from Hedges (12.5) (1.3) — (13.8) — Total 130.0 128.9 18.1 277.1 270.3 For the interest-bearing liabilities the nominal interest rates and the face values are as followed. September 30, 2022 September 30, 2021 EUR million Currency Nominal interest rate Year of maturity Carrying amount Face value Carrying amount Face value Secured bank loan EUR 1.00 % 2026 0.4 0.3 0.5 0.4 Secured bank loan EUR 1.30 % 2025 0.3 0.3 0.4 0.4 Secured bank loan EUR 1.55 % 2025 0.3 0.3 0.4 0.4 Secured bank loan EUR 0.90 % 2025 0.2 0.2 0.2 0.2 Secured bank loan EUR 1.25 % 2024 0.4 0.4 0.6 0.6 Secured bank loan EUR 0.60 % 2024 0.2 0.2 0.2 0.2 Secured bank loan EUR 0.25 % 2026 1.8 1.8 2.0 2.0 Secured bank loan EUR 0.25 % 2026 1.8 1.8 2.0 2.0 Secured bank loan EUR EURIBOR 3M+3.5 points 2024 100.3 100.0 75.2 75.0 Unsecured bank loan USD 2.50 % 2023 2.2 2.2 0.0 0.0 Unsecured loan EUR EURIBOR 12M+5 points 2025 51.2 50.0 0.0 0.0 Unsecured loan EUR EURIBOR 12M+5 points 2025 30.2 30.0 0.0 0.0 The cash inflows and outflows shown in the table above represent the contractual, undiscounted cash flows from derivative financial liabilities held for risk management purposes, which are generally not concluded before the expiry of the contract. The disclosure shows the gross cash inflows and outflows for derivatives that also show gross cash settlement. It is not expected that the cash flows included in the maturity analysis could occur significantly earlier or in significantly different amounts. The secured bank loans are secured over inventories. Please refer to Note 7.14. 10.8. Market risks The market risk is a risk that changes in market prices could affect the results of SIGNA Sports United Group or the value of its holdings of financial instruments. The aim of market risk management is to manage and control market risk positions with acceptable parameters. The market risk to which SIGNA Sports United Group is exposed mainly consists of minor exchange rate risks. These risks are constantly monitored by the Group and controlled by contractual agreements. SIGNA Sports United Group uses derivatives to manage foreign currency risks. All these transactions are carried out within the framework of the risk management guidelines. 10.9. Foreign currency risks and currency risk of warrants SIGNA Sports United Group is exposed to currency risks to a limited extent that there is a mismatch between the currencies in which sales and purchases are denominated and the respective functional currencies of the companies of SIGNA Sports United Group. Exchange rate risks exist primarily for the Swiss franc (CHF), the Swedish krona (SEK), the Norwegian krona (NOK), British Pound (GBP) and the US Dollar (USD). In order to reduce the effects of exchange rate fluctuations, SIGNA Sports United Group continuously quantifies the exchange rate risk. SIGNA Sports United Group is exposed to foreign currency risks through highly probable payments in USD. In order to minimize foreign currency risk, SIGNA Sports United Group concludes corresponding forward transactions. As a result of the hedging transactions concluded for this risk, the Group was not exposed to any significant currency risk. As of the balance sheet date, there are significant assets denominated in foreign currencies amounting to USD 2.1 million (2021: USD 0.2 million), CHF 2.4 million (2021: CHF 4.8 million), SEK 33.3 million (2021: SEK 42.2 million), DKK 3.6 million (2021: DKK 5.9 million), NOK 24.6 million (2021: NOK 43.2 million), PLN 1.8 million (2021: PLN 0.9 million) and GBP 0.4 million (2021: GBP 0.9 million) and liabilities amounting to USD 46.0 million (2021: USD 1.8 million), CHF 2.9 million (2021: CHF 0.5 million), SEK 27.6 million (2021: SEK 6.8 million), DKK 0.2 million (2021: DKK 0.0 million), NOK 1.6 million (2021: NOK 0.1 million), PLN — million (2021: PLN 0.0 million) and GBP 0.2 million (2021: GBP 0.3 million). For highly probable payments in USD from imports and revenues in CHF, cash flow hedge accounting is applied for SIGNA Sports United Group. SIGNA Sports United Group aims to achieve a hedge ratio of up to 100%. The purpose of applying hedge accounting is to prevent a temporary distortion of the result by the gains or losses from the fair value measurement of the derivatives concluded to hedge existing currency risks. The existing foreign currency risk and the associated hedging of these risks is constantly monitored. The Group’s risk management strategy aims to minimize the impact of changes in foreign exchange rates on transactions that have already been agreed or are highly likely to occur. In principle, it is the Group’s policy that the critical terms of the forward transaction correspond to the hedged underlying transaction. SIGNA Sports United determines the existence of an economic relationship between the hedging instrument and the hedged underlying transaction on the basis of the currency, amount and timing of their respective cash flows. The Group uses the hypothetical derivative method to assess whether the derivative designated in each hedging relationship is expected to be and has been effective in offsetting changes in the cash flows of the hedged item. When this method is applied, the absolute changes in value of the underlying transaction and the hedging instrument are compared. For cash flow hedges, the smaller of the change in value of the underlying transaction and the hedging instrument is recognized in other comprehensive income. If the change in value of the hedging instruments exceeds the change in value of the underlying transaction, this amount is recognized in income. The hedging relationship between the unrecognized forecast transaction (underlying transaction) and the forward exchange transaction (hedging instrument) is documented at the beginning of the hedged transaction. In the fiscal year, net gain from cash flow hedges in the amount of €-1.0 million (2021: €0.5 million; 2020: €-0.1 million) were recognized in other comprehensive income. The maximum remaining term of cash flow hedges from planned transactions was essentially 12 months at the end of the fiscal year. It is expected that the hedged planned transactions will occur and thus affect the result of the next period. The net assets of foreign subsidiaries and translation risks are not hedged against exchange rate fluctuations. As of September 30, 2022, a change in foreign currency holdings by 10 percentage points against the euro would have only a minor impact on total comprehensive income. In addition the Group’s activities expose it to the financial risks of changes in price of the warrants. As the warrants are recognized at fair value on the consolidated statement of financial position of the Group, the Group’s exposure to market risks results from the volatility of the warrants price. The Warrants are publicl y traded at the New York Stock Exchange. A re asonable increase (decrease) in the warrant price by 10%, with all other variables held constant, would lead to a (loss) gain before tax of €0.4 million with a corresponding effect in the equity. Currency risk shows the risk that the value of a financial instrument will fluctuate due to changes in foreign exchange rates. The warrants are traded in U.S. Dollar while the functional currency of SSU is Euro. A reasonably increase (decrease) in the U.S. Dollar / Euro exchange rate by 10%, with all other variables held constant, would lead to a gain (loss) before tax of €0.3 million / (€0.4 million) with a corresponding effect in the equity. The risks associated with our warrants result in non-cash, non-operating financial statement effects and have no impact on the Company’s cash position, operating expenses or cash flows 10.10. Interest rate risks Interest rate risks arise from fluctuations in interest rates on the capital market, which affect the Group’s net assets, financial position and results of operations. Due to the contractually agreed fixed interest rates for financial liabilities, there are no significant interest rate risks for the reporting period. For further information on the main current financing arrangements and the underlying interest rates, see Note 13 “Related party transactions”. It was therefore not necessary to hedge interest rates through the use of derivatives. The Group does not recognize fixed-interest financial assets and liabilities at fair value through profit or loss. Derivatives (interest rate swaps) are not designated as fair value hedging instruments. A change in the interest rate on the reporting date would therefore not affect profit or loss. 10.11. Capital management SIGNA Sports United Group is not subject to any external legal requirements regarding capital management except the general capital regulations in the Dutch Civil Code (Burgerlijk Wetboek). In the past, SIGNA Sports United Group was provided with capital by its parent company through capital contributions and intra-Group loans, primarily from SIGNA International Sports Holding GmbH. SIGNA Sports United distributes its financial resources among its Group companies independently of its parent company. The objectives of SIGNA Sports United Group in managing its capital were: • to secure its ability to continue as a going concern so that it can continue to generate income for its shareholders and economic benefits for other stakeholders, and • to maintain an optimal capital structure to reduce the cost of capital. In order to maintain or adjust its capital structure, SIGNA Sports United has implemented a sustainable concept for managing its short, medium and long-term financing and liquidity requirements. For the current reporting period, SIGNA Sports United manages liquidity risks by maintaining sufficient capital reserves and credit lines with banks as well as by continuously monitoring expected and actual cash flows and a balanced portfolio of financial assets and liabilities with regard to maturities. The following table shows the total equity of SIGNA Sports United Group (as shown in the consolidated statements of financial position, including non-controlling interests) and the equity ratio: September 30, EUR million 2022 2021 2020 Total equity 617.3 373.4 347.1 Total equity and borrowed capital 1,309.5 742.9 682.0 Equity ratio 47.1 % 50.3 % 50.9 % |
Discontinued operations
Discontinued operations | 12 Months Ended |
Sep. 30, 2022 | |
Disposal Groups and Discontinued Operations [Abstract] | |
Discontinued operations | 11. Discontinued operations In September 2022, management concluded on the discontinuation of its retail business ‘Stylefile’ within Publikat. The decision to discontinue Stylefile was driven mainly by its historical performance and expected business forecasts in the absence of further capital investments and opportunity costs. Consequently, the Company is reporting its Stylefile business line as a discontinued operation. All Stylefile related accounts receivable and accounts payable are included in the consolidated financial statements as of September 30, 2022. In addition, all tangible and intangible assets associated with the Stylefile operations have been tested for impairment as at September 30, 2022 resulting in the impairment of Stylefile inventories of €8.6 mill ion and the impairment of €0.7 million for the domains and Goodwill of €4.1 million (please refer to Note 7.2). Discontinued operations are presented separately from continuing operations in the consolidated statements of profit or loss and other comprehensive income and consolidated statements of cash flows. Fiscal year ended September EUR million 2022 2021 2020 Results of discontinued operations Revenue 53.0 58.2 58.8 Own work capitalized 0.1 0.4 0.3 Other operating income 0.1 0.7 1.0 Cost of material (41.7) (33.9) (34.7) Personnel expense (9.3) (9.1) (9.0) Other operating expenses (19.5) (20.6) (18.9) Depreciation and amortization (2.3) (1.8) (1.1) Impairment loss (4.8) — — Operating result (24.4) (6.2) (3.5) Finance result (2.0) (2.1) (1.4) Earnings before taxes (EBT) (26.4) (8.3) (5.0) Income tax expense/benefit — — — Loss for the period (26.4) (8.3) (5.0) Loss per share Basic and diluted loss per share (0.1) — — Cash flow from discontinued operations (7.7) (13.2) (4.5) Net cash flow from/ (used in) operating activities (6.6) (4.3) (2.5) Net cash flow from/ (used in) investing activities (0.6) (1.2) (0.9) Net cash flow from/ (used in) financing activities (0.5) (7.7) (1.2) |
Commitments, contingent liabili
Commitments, contingent liabilities and guarantees | 12 Months Ended |
Sep. 30, 2022 | |
Commitments and Contingencies [Abstract] | |
Commitments, contingent liabilities and guarantees | 12. Commitments, contingent liabilities and guarantees Liabilities of the Group to banks totaling €107.9 million (2021: €81.6 million) are secured mainly by inventories and trade receivables. Please refer to Note 7.14. The Group’s syndicated loan is secured by shares in a subsidiary. Contingent liabilities exist for bonus payments where the obligation is depending on future events. |
Related party transactions
Related party transactions | 12 Months Ended |
Sep. 30, 2022 | |
Related party transactions [abstract] | |
Related party transactions | 13. Related party transactions SSU N.V.’s parent is SIGNA International Sports Holding GmbH, Munich, Germany and the SSU N.V.’s ultimate controlling party is SIGNA Retail GmbH, Vienna, Austria. The next more senior parent that produces consolidated financial statements is SIGNA Retail Selection AG, Zürich, Switzerland. Transactions and outstanding balances with related parties exist between the consolidated companies of SIGNA Sports United N.V. (see note 16) and the other companies of SIGNA Retail Selection Group, consisting of SIGNA Retail Selection AG, Zürich/Switzerland and its direct and indirect subsidiaries outside the consolidated companies of the Group, as well as with associated companies and joint ventures (e.g. Teamstolz GmbH and AEON SIGNA Sports United Co., Ltd.), and with members of management in key positions and the Board of Directors of the Group. Transactions and outstanding balances with related parties are explained below. Please refer to Note 13 for the remuneration of Executive Management and the Board of Directors. During the year, group entities entered into the following transactions with related parties who are not members of the Group: Transaction values Balance outstanding September 30, EUR million 2022 2021 2020 2022 2021 Sale of goods and services OUTFITTER GmbH — — 0.8 — — SportScheck GmbH 0.3 0.4 — 0.3 0.5 SIGNA Sports United X GmbH 0.6 — — 0.4 — Tennis-Point UK Ltd. — — — 0.2 — Purchase of goods and services OUTFITTER GmbH 0.5 — 0.5 3.8 — Karstadt Sports — 2.2 — Galeria Karstadt Kaufhof GmbH 0.3 0.4 5.4 0.1 0.0 SportScheck GmbH 0.5 2.7 0.2 0.0 0.2 SIGNA Retail Selection AG — 0.5 0.4 0.2 0.2 SIGNA Informationstechnologie GmbH 0.0 0.1 — 0.0 — o5 Logistik GmbH 0.1 — 0.2 — — SIGNA Retail GmbH 0.1 0.7 0.4 0.7 — SIGNA Financial Services AG — 1.5 — — 4.0 Financial liabilities and interest SIGNA International Sports Holding GmbH Convertible Loan and related interest — 0.8 2.7 — — SIGNA Holding GmbH Loan and related interest 1.4 — — 81.4 — Financial receivables and interest SIGNA Sports United X GmbH 0.0 — — 1.5 — All outstanding balances with these related parties are to be settled in cash within three months of the reporting date. None of the balances is secured. No expense has been recognized in the current year or prior year for bad or doubtful debts in respect of amounts owed by related parties. With effect from April 3, 2018, both Internetstores Holding and Tennis-Point have entered into a partnership agreement with Karstadt Sports GmbH, Essen/Germany, (hereinafter also referred to as “Karstadt”), a subsidiary of Karstadt Warenhaus GmbH. The subject of the agreement is a cooperation in the bicycle and tennis business segments using Karstadt stores. Karstadt is compensated for its retail space and sales services by a monthly rental payment, a marketing fee, a purchase commission, a sales commission and cost of goods. In a second phase, Internetstores Holding and Tennis-Point will be responsible for the complete merchandise purchasing and also for the logistics to the Karstadt stores. The partnership agreement and underlying business was terminated within the financial year ending September 30, 2021. Dr. Zoll entered into a loan agreement with SIGNA Retail Selection AG, an indirect majority shareholder of SISH who grants similar financial assistance to other SIGNA Retail group companies from time to time. The loan is for an amount of up to €5.3 million, bearing interest at 2.0% per annum, for the purpose of financing tax obligations that would arise if Dr. Zoll transfers shares acquired under the option rights to a personal investment vehicle and is payable only at the request of Dr. Zoll in connection with such a transfer. Provided the aforementioned terms are met, the loan term will end at the earlier of March 31, 2024 or within five days of the receipt of a notice of termination issued by either party. Any loan amount drawn upon, plus interest, is repayable no later than March 31, 2024. |
Remuneration of the members of
Remuneration of the members of Executive Management and the Board of Directors | 12 Months Ended |
Sep. 30, 2022 | |
Remuneration of Executive Management and Board of Directors [Abstract] | |
Remuneration of the members of Executive Management and the Board of Directors | 14. Remuneration of the members of Executive Management and the Board of Directors Executive management has authority and responsibility for planning, directing and controlling the activities of the Group, and is considered to be key management personnel. In the financial year ended September 30, 2022, the key management personnel as defined above received short-term employee benefits as total compensation. The total remuneration of management is shown in the following table: September 30, EUR million 2022 2021 2020 Salaries and other short-term benefits 6.3 4.3 4.0 Post-employment benefits — — 0.9 Termination benefits — — 0.2 Share-based payments 8.1 2.7 — Total 14.4 7.0 5.1 Compensation of the Group’s key management personnel includes salaries, other short-term benefits as well as share-based payments. For further information regarding the share-based payments see note 7.12. The Board of Directors monitors and advises management on all matters relating to the daily business of SSU and in particular in the exercise of rights in relation to its direct holdings. The Non-Executive Directors have been appointed to the Board of Directors of the Company on December 14, 2021. The Board of Directors currently consists of 7 members. |
Business combinations
Business combinations | 12 Months Ended |
Sep. 30, 2022 | |
Business Combinations [Abstract] | |
Business combinations | 15. Business combinations The following strategic business combinations were made to form the SIGNA Sports United Business in fiscal year ending September 30, 2022: Acquisition of Wiggle Group On December 14, 2021, SSU GmbH completed the acquisition of 100% of the issued shares in Wiggle Group, a UK headquartered online cycling and multisport specialist, for a total consideration of €510.8 million. The strategic investment is intended to strengthen the Company’s activities in the Bike & Outdoor business segment and to extend the Company’s internationalization strategy. The operating results and assets and liabilities of the acquired company are consolidated from December 14, 2021. Acquisition-related costs in the amount of €0.2 million were reported within other operating expenses (2021: €3.6 million). Details of the consideration transferred on acquisition date: EUR million Cash Consideration 236.0 Equity Consideration 274.8 Total consideration 510.8 As of September 30, 2022, the purchase price allocation has been completed. The following table illustrates the recognized assets and (liabilities) assumed at the date of the acquisition: EUR million Fair value at the time of acquisition Property, plant and equipment 9.5 Right-of-use-assets 24.8 Identifiable intangible assets 202.0 Inventories 78.0 Trade receivables 0.7 Other current financial asset 2.4 Other current assets 11.2 Cash and cash equivalents 45.8 Non-current provisions (3.1) Non-current financial liabilities (98.0) Deferred tax liabilities (28.5) Trade payables (41.2) Other current financial liabilities (2.0) Other current liabilities (69.6) Contract liabilities (1.7) Total identifiable net assets acquired 130.3 Consideration transferred 510.8 Goodwill 380.4 The goodwill is attributable mainly to the synergies expected to be achieved from integrating the Wiggle Group into the Group’s existing bike and outdoor business as well as from the expansion of existing business activities and the expected benefits from the expansion into new markets and business segments. Therefore, an amount of €61.2 million of the originally recognized Goodwill of €380.4 million was allocated to the group of CGUs Internetstores. Furthermore, an impairment loss which was fully allocated to goodwill of €243.7 million was recognized for the fiscal year e nded September 30, 2022 (see Note 7.2). None of the goodwill recognized is expected to be deductible for tax purposes. The fair value of the trademarks was determined using the relief from royalty method. The fair value allocated to customer relationships was determined using the “Multi-Period Excess Earnings Method”. Fr om the acquisition date on December 14, 2021 to September 30, 2022 , the Wiggle Group contributed revenue of €223.8 million and loss of €123.1 million to the Group’s results. If the acquisition had taken place on October 1, 2021, management estimates that the contribution to the consolidated revenue and consolidated loss would have been €295.9 million and €175.8 million, respectively. In determining these amounts, management has assumed that the fair value adjustments, determined provisionally, that arose on the date of acquisition would have been the same if the acquisition had occurred on October 1, 2021. Acquisition of Tennis Express On January 1, 2022, the Company acquired 66.66 % of the issued shares in Tennis Express, a full-service tennis specialty retailer based in Houston, Texas. The strategic investment is intended to strengthen the activities in the Tennis business segment and to extend the Group internationalization strategy. The purchase price paid in cash amounted to €3.6 million and also consists of equity instruments in the amount of €16.9 million. At the time of the acquisition, the Company and the non-controlling shareholders entered into a nearly symmetrical put call options that are classified as a synthetic forward transaction. Under these options, the Group is obligated to acquire the remaining 33.34% of non-controlling interests for a contractually agreed consideration no later than the expiry of the options on February 29, 2024. The expected payment resulting from the put option liability at the acquisition date is €10.8 million. The Group has applied the anticipated acquisition method, whereby the put option liability is viewed as part of the consideration transferred and no non -controlling interest is recognized. Acquisition-related costs in the amount of €0.1 million were reported within other operating expenses (2021 : €0.3 million). The following table illustrates the recognized assets and (liabilities) assumed at the date of the acquisition: EUR million Fair value at the time of acquisition Property, plant and equipment 0.1 Right-of-use-assets 0.2 Identifiable intangible assets 7.1 Inventories 9.1 Trade receivables 0.1 Other current assets 1.4 Cash and cash equivalents 0.6 Deferred tax liabilities (1.8) Tax liabilities (1.1) Trade payables (3.2) Other current liabilities (2.6) Total identifiable net assets acquired 9.9 Consideration transferred 31.3 Goodwill 21.4 The goodwill is attributable mainly to the synergies expected to be achieved from integrating Tennis Express into the Group’s existing tennis business as well as from the expansion of existing business activities and the expected benefits from the expansion into new markets and business segments. Therefore, the recognized Goodwill of €21.4 million was fully allocated to the group of CGUs Tennis US. None of the goodwill recognized is expected to be deductible for tax purposes. From the acquisition date on January 1, 2022, to September 30, 2022, Tennis Express contributed revenue of €44.5 million and loss of €6.8 million to the Group’s results. If the acquisition had taken place on October 1, 2021, management estimates that the contribution to the consolidated revenue and consolidated loss would have been €59.3 million and €8.3 million, respectively. In determining these amounts, management has assumed that the fair value adjustments, determined provisionally, that arose on the date of acquisition would have been the same if the acquisition had occurred on October 1, 2021. The following strategic business combinations were made to form the SIGNA Sports United Business in fiscal year ending September 30, 2021: Acquisition of Midwest Sports The acquisition of Midwest Sports Supply, Inc., Cincinnati, Ohio, USA ("Midwest"), an online retailer, which closed on April 30, 2021, was a strategic investment to strengthen the activities in the Tennis business segment. As part of the transaction, SIGNA Sports United acquired 60.61 % of the shares in Midwest. The purchase price paid in cash amounted to €7.7 million at the time of acquisition. At the time of the acquisition, SSU and the non-controlling shareholders entered into a nearly symmetrical put call option that can be classified as a synthetic forward transaction. Under the options, the Group is obligated to acquire the remaining 39.39 % non-controlling interests for a contractually agreed consideration no later than the expiry of the options on March 31, 2025. The expected payment resulting from the put option liability at the acquisition date is €5.5 million. The Group has applied the anticipated acquisition method, whereby the put option liability is viewed as part of the consideration transferred and no non-controlling interest is recognized. Acquisition-related costs in the amount of €0.4 million were reported within other operating expenses. As of September 30, 2021 , the purchase price allocation has been completed. The following table illustrates the recognized assets and liabilities assumed at the date of the acquisition: EUR million Fair value at the time of acquisition Property, plant and equipment 0.1 Right-of-use-assets 0.6 Identifiable intangible assets 1.7 Other non-current assets 0.3 Inventories 4.9 Trade receivables 0.1 Other current assets 0.1 Cash and cash equivalents 0.2 Other non-current liabilities (0.5) Tax liabilities (0.7) Trade payables (3.2) Other current liabilities (1.4) Total identifiable net assets acquired 2.2 Consideration transferred 13.2 Goodwill 11.0 The goodwill allocated to the expected synergies from the expansion of existing business activities and the expected benefits from the expansion into new markets and business segments was not tax deductible. The fair value of the trademarks was determined using the relief from royalty method. The fair value allocated to the customer relationship was determined using the “Multi-Period Excess Earnings Method”. From the acquisition date on April 30, 2021, to September 30, 2021, Midwest contributed revenue of €16.5 million and profit of €0.5 million to the Group’s results. If the acquisition had taken place already on October 1, 2020, management estimates that the contribution to the consolidated revenue and consolidated profit would have been €35.9 million and €2.5 million, respectively. In determining these amounts, management has assumed that the fair value adjustments, determined provisionally, that arose on the date of acquisition would have been the same if the acquisition had occurred on October 1, 2020. |
Disclosures on shareholdings in
Disclosures on shareholdings in accordance with IFRS 12 | 12 Months Ended |
Sep. 30, 2022 | |
Disclosure of subsidiaries [abstract] | |
Disclosures on shareholdings in accordance with IFRS 12 | 16. Disclosures on shareholdings in accordance with IFRS 12 As of September 30, 2022, SIGNA Sports United Group comprised the following material companies which were included in the scope of consolidation: Name Principal place of business, Country Sum of the direct and indirect shares as of September 30, 2022 Type of interest 1 Sum of the direct and indirect shares as of September 30, 2021 Type of interest 1 SIGNA Sports NV Berlin, Germany SIGNA Sports United GmbH Berlin, Germany 100.0% FC —% — Olympics I Merger Sub, LLC George Town, Cayman Islands,UK 100.0% FC —% — OUTFITTER Teamsport GmbH Großostheim, Germany 100.0% FC 100.0% FC Teamstolz GmbH Ehingen, Germany 55.0% AE 55.0% AE SIGNA SPORTS CENTRO TÉCNICO SL Barcelona, Spain 100.0% FC 100.0% FC Score Invest SAS Holtzheim, France 80.6% FC 80.6% FC Tennis-Point GmbH Herzebrock-Clarholz, Germany 100.0% FC 100.0% FC MRS Tennis AG Dietikon, Switzerland 100.0% FC 100.0% FC Tennis-Point Handels GmbH Graz, Austria 100.0% FC 100.0% FC TENNIS POINT SPOR MALZEMELERI LIMITED SIRKETI Serik Antalya, Turkey 100.0% FC 100.0% FC Tennis-Point Iberia S.L. Barcelona, Spain 100.0% FC 100.0% FC Tennis-Point d.o.o. Bol, Croatia 100.0% FC 100.0% FC Tennis Point Italia SRL Bruneck, Italy 100.0% FC 100.0% FC Midwest Sports Supply LLC. Cincinnati, USA 60.6% FC 60.6% FC Ballside GmbH Rostock, Germany 100.0% FC 100.0% FC Tennis Express LLC Houston, USA 66.7% FC —% FC Publikat GmbH Großostheim, Germany 100.0% FC 100.0% FC SIGNA Sport Online GmbH Munich, Germany 100.0% FC 100.0% FC Internetstores Holding GmbH Stuttgart, Germany 100.0% FC 100.0% FC Internetstores GmbH Stuttgart, Germany 100.0% FC 100.0% FC Bikester Sweden Retail Stores AB Stockholm, Sweden 100.0% FC 100.0% FC Addnature AB Stockholm, Sweden 100.0% FC 100.0% FC Probikeshop-Dolphin France SAS Saint Etienne, France 100.0% FC 100.0% FC E-Procall Saint Etienne, France 100.0% FC 100.0% FC E-Prolog Chapponay, France —% 0 100.0% FC SIGNA Beteiligung I Verwaltungs UG (haftungsbeschränkt) Munich, Germany 100.0% FC 100.0% FC SIGNA Beteiligung I UG (haftungsbeschränkt) & Co KG Munich, Germany 100.0% FC 100.0% FC Sports Data Services GmbH (formally known as INSIGNA GmbH) Munich, Germany 100.0% FC 100.0% FC SIGNA AppVentures GmbH Munich, Germany 100.0% FC 100.0% FC AEON SIGNA Sports United Co., Ltd. Chiba, Japan 50.0% AE 50.0% AE Sports North America Holding Corp. New York, USA 100.0% FC —% — SSU Midwest Acqusition Corp. New York, USA 100.0% FC —% — Sports Media Services Gmbh Berlin, Germany 100.0% FC —% — Mapil TopCo Limited Portsmouth, United Kingdom 100.0% FC —% — Mapil MidCo 1 Limited Portsmouth, United Kingdom 100.0% FC —% — Mapil MidCo 2 Limited Portsmouth, United Kingdom 100.0% FC —% — Mapil Bidco Limited Portsmouth, United Kingdom 100.0% FC —% — Ensco 503 Limited Portsmouth, United Kingdom 100.0% FC —% — Wiggle Limited Portsmouth, United Kingdom 100.0% FC —% — Peleton Topco Limited Portsmouth, United Kingdom 100.0% FC —% — Peleton Midco 1 Limited Portsmouth, United Kingdom 100.0% FC —% — Chain Reaction Cycles Limited Portsmouth, United Kingdom 100.0% FC —% — Hotlines Europe Limited Edinburgh, United Kingdom 100.0% FC —% — Chain Reaction Cycles Retail Limited Belfast, United Kingdom 100.0% FC —% — Taiwan Chain Reaction Co. Ltd Yuanlin, Taiwan 100.0% FC —% — Wiggle Australia Pty Limited Portsmouth, United Kingdom 100.0% FC —% — WiggleCRC US LLC Portsmouth, United Kingdom 100.0% FC —% — 1 FC: Full consolidation, AE: At-equity Although, the Group has half of the voting rights of AEON SIGNA Sports United Co., Ltd. and Teamstolz GmbH, management decided that the Group has no control over these investees, AEON SIGNA Sports United Co., Ltd and Teamstolz GmbH are accounted for at-equity. |
Segment information
Segment information | 12 Months Ended |
Sep. 30, 2022 | |
Segment Reporting [Abstract] | |
Segment information | 17. Segment information Basis for segmentation SIGNA Sports United Group operates a variety of e-commerce platforms and offline stores for various brands and offers a broad product portfolio in the sporting goods sector. The Group has the following divisions, which are its operating segments: Tennis EU, Tennis US, Bike & Outdoor, Wiggle Group and Teamsport. In the current financial year the Group decided to discontinue its ‘Stylefile’ business (see note 11). These divisions offer different products and services and are managed separately because they require different technology and marketing strategies. The Wiggle Group was added in the current year as an operating segment following the business combination in December 2022. Similarly, the Tennis US operating segment was added in the current year following the acquisition of Tennis Express and the shift of Midwest Sports from the Tennis EU operating segment to the Tennis US operating segment. (refer Note 15 . Business combinations). Segment Operations Tennis EU Retail activities and online business with main brands Tennis-Point and TennisPro; product portfolio comprises tennis supplies which are sold mainly in Europe Tennis US Retail activities and online business with main brands Tennis-Point (Midwest Sports) and Tennis Express; product portfolio comprises tennis supplies which are sold mainly in the US Bike & Outdoor Retail activities and online business through various brands; product portfolio comprises bikes and related services as well as outdoor products Wiggle Group Retail activities and online business through various brands; product portfolio comprises bikes and related services which are sold mainly in the UK Teamsport Sale through the online shop OUTFITTER; focus is on offering and selling sports & teamsports wear as well as customizing of merchandise Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker (CODM). The CODM evaluates the financial performance of SIGNA Sports United Group, allocates resources and is involved in strategic and operational decision making on an ongoing basis. The CODM receives and reviews the internal management reporting for each operating segment at least once a month in order to make decisions and allocate resources to the Tennis, Bike & Outdoor, and Teamsport segments. In accordance with IFRS 8.5, the five operating segments mentioned above are represented as three reportable segments. The reportable segment of “Tennis” includes Tennis EU and Tennis US. The reportable segment of “Bike and Outdoor” is made up of the operating segments relating to the Wiggle Group and Bike & Outdoor. The third reportable segment is “Teamsport”. For the determination of the reportable segments long-term revenue growth, gross profit margin and Segment adjusted EBITDA margin (which is calculated using adjusted EBITDA (as defined below) divided by total revenue) as economic indicators have been assessed. In the current financial year impairment losses of €1.9 million were recognized within the reportable segment “Tennis”and €252.9 million within the reportable segment “Bike & Outdoor”. The impairment losses are included in ‘Impairment’ within the consolidated statement of profit or loss. See further information regarding impairment testing in Note 7.2. Segment Adjusted EBITDA The CODM assesses the performance of the operating segments based on Segment adjusted EBITDA (which is defined as consolidated net income (loss) before interest, income taxes, depreciation and amortization adjusted for impairments and certain other items which management believes do not reflect the core operating performance of the operating segments) adjusted for certain items which management believes do not reflect the core operating performance of the operating segments. Such adjustments described below in more detail include acquisition related charges, reorganization and restructuring costs, consulting fees, share-based compensation and other items. Information on reportable segments Fiscal year ended September 30, 2022 EUR million Tennis Bike & Outdoor Teamsport Segment total Revenue 259.1 763.6 46.8 1,069.5 External revenue 259.0 763.4 40.4 1,062.8 Intersegment revenue 0.0 0.2 6.4 6.6 Segment Adjusted EBITDA (0.3) (28.3) (6.9) (35.5) Segment Assets 233.7 579.8 71.9 885.4 Segment Liabilities 224.5 557.9 144.0 926.5 Fiscal year ended September 30, 2021 EUR million Tennis Bike & Outdoor Teamsport Segment total Revenue 165.4 607.6 47.0 820.0 External revenue 165.4 607.0 41.2 813.7 Intersegment revenue — 0.5 5.8 6.3 Segment Adjusted EBITDA 7.2 41.4 (4.0) 44.6 Segment Assets 156.3 450.6 95.9 702.8 Segment Liabilities 124.4 284.9 128.2 537.5 Fiscal year ended September 30, 2020 EUR million Tennis Bike & Outdoor Teamsport Segment total Revenue 125.9 497.5 25.6 649.1 External revenue 125.5 497.4 21.6 644.4 Intersegment revenue 0.5 0.1 4.0 4.6 Segment Adjusted EBITDA 2.2 24.7 (2.6) 24.3 Segment Assets 122.5 435.7 82.1 640.4 Segment Liabilities 84.6 273.5 96.1 454.2 The following table reconciles the performance indicators presented in the segment information to the consolidated statements of profit or loss and other comprehensive Income of SIGNA Sports United Group. September 30, EUR million 2022 2021* 2020* Segment Adjusted EBITDA total** (35.5) 44.6 24.3 Unallocated corporate costs (1) (30.9) (15.0) (7.7) Acquisition related charges (2) (2.7) (0.5) (0.4) Reorganization and restructuring costs (3) (140.5) (7.2) (3.2) Consulting fees (4) (41.7) (21.6) (0.6) Share-based compensation (5) (17.1) (2.7) (0.1) Other items not directly related to current operations (6) (2.7) 1.2 (2.5) Other net finance income/ (cost) (7) 19.5 (0.3) — Impairment loss (254.9) (0.6) (0.1) Result from investments accounted for at equity (1.2) (1.3) (0.7) Interest Expense (net) (4.2) (4.3) (7.1) Depreciation and amortization (53.9) (28.5) (24.5) Earnings before taxes (EBT) (565.9) (36.2) (22.6) * The comparative numbers have been re-presented as a result of discontinued operations. Refer to Note 11- Discontinued Operations. ** The definition of Segment adjusted EBITDA was changed beginning October 1, 2021 to include ramp-up costs and consulting expenses related to management hiring which had previously been excluded. The prior period amounts have been adjusted to state the relevant amounts on a comparable basis. The impact on the prior period Segment adjusted EBITDA was less than €1.4 million. (1) Unallocated corporate costs consist of mainly intercompany activities and loans, corporate functions as well as cost allocations. (2) Acquisition related charges consist of transaction costs incurred from acquisitions during the period or subsequent business integration related project costs directly associated with an acquired business. (3) Reorganization and restructuring costs represent fees and costs associated with various internal reorganization and restructuring initiatives across the SSU’s segments, including share listing expenses of €121.9 million and restructuring costs of €18.5 million in the fiscal year ended September 30, 2022. In the fiscal year ended September 30, 2021, reorganization and restructuring costs consisted mainly of severance costs in the amount of €2.8 million and restructuring costs in the amount of €4.0 million. (4) Consulting fees primarily consists of consultancy fees in connection with acquisitions, financing (equity and debt) and strategic projects including expenses incurred in connection with the share listing of €25.7 million, fees related to ERP implementation of €3.9 million and preparation costs in relation to being Sarbanes-Oxley (SOX) compliant of €3.2 million for the fiscal year ended September 30, 2022. In the fiscal year ended September 30, 2021, consulting fees primarily consisted of expenses incurred in connection with the public listing of €17.8 million, fees related to Business Combinations of €1.5 million and expenses for a market study in the amount of €0.8 million. (5) Share-based compensation represents non-cash share-based compensation expenses related to option awards to employees and executives. (6) Other items are excluded from adjusted EBITDA because they are not considered to be representative of the performance of our businesses. (7) Other net finance income/ (cost) consists mainly of currency gains and losses and impact from derivative revaluations, Reconciliations of information on reportable segments to the amounts reported in the financial statements September 30, EUR million 2022 2021 2020 I. Revenue Total segment revenue 1,069.5 820.0 649.1 Intersegment elimination (6.6) (6.3) (4.6) Consolidated revenue 1,062.8 813.7 644.4 II. Assets Total segment assets 885.4 702.8 640.4 Unallocated and intersegment elimination 424.1 40.1 41.6 Consolidated assets 1,309.5 742.9 682.0 III. Liabilities Total segment liabilities 926.5 537.5 454.2 Unallocated and intersegment elimination (234.2) (168.0) (119.3) Consolidated liabilities 692.2 369.5 334.9 Unallocated and intersegment elimination consists of mainly intercompany activities and loans, corporate functions as well as cost allocations. Geographical information Non-current assets excluding goodwill are based on the location of the company owning such assets. Non-current assets EUR million 2022 2021 Germany 296.0 245.8 Switzerland 0.7 0.2 United Kingdom 223.4 — Austria 1.0 0.6 France 34.9 31.4 USA 16.5 2.2 Rest of the world 20.5 17.0 Total 592.9 297.1 For the geographical breakdown of external revenues see note 6.1. |
Events after the reporting peri
Events after the reporting period | 12 Months Ended |
Sep. 30, 2022 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
Events after the reporting period | 18. Events after the reporting period As described in note 2, On September 28, 2022, the Group entered into the Subscription Agreement with SIGNA Holding to issue €100.0 million aggregate principal amount of Initial Convertible Bonds to SIGNA Holding with a closing date on October 4, 2022, which was subsequently sold and transferred to our affiliate SIGNA European Invest Holding AG. The convertible bonds mature on October 4, 2028. Bondholders have the right to increase the principal amount of the Initial Convertible Bonds by an additional aggregate principal amount of up to €200.0 million as of closing of the convertible bond issuance and until and including September 30, 2023 in one or more tranches with minimum denominations of €1.0 million (Upsize option). In addition, on February 6, 2 023 , the Group received the SIGNA Holding Equity Commitment Letter from SIGNA Holding. Such commitment provides the Company with the right to issue and sell (put right) Additional Convertible Bonds to our affiliate SIGNA Holding, at the same terms and conditions as the Initial Convertible Bonds, in one or more tranches until and including September 30, 2024 for an aggregate additional principal amount of €130.0 million of newly issued convertible bonds. Any subsequent exercise of the put right pursuant to the SIGNA Holding Equity Commitment Letter will reduce Euro for euro, the available amount under the ‘Upsize Option’ granted by SSU to SIGNA Holding in connection with the issuance of the ‘Initial Convertible Bonds‘. The SIGNA Holding Equity Commitment Letter was required to address our very precarious liquidity situation since the beginning of our fiscal year ending September 30, 2023 fiscal year and to provide the Company with a going-concern perspective until mid-February 2024. Simultaneously with signing the SIGNA Holding Equity Commitment Letter, we entered into an amendment agreement to the SIGNA Holding RCF I with SIGNA Holding on February 6, 2023 (the “SIGNA Holding RCF I Amendment”). The purpose of the SIGNA Holding RCF I Amendment is to provide us with a bridge financing in the amount of up to €50.0 million until the respective tranches under the Additional Convertible Bonds have been issued and settled. Any amounts drawn under the additional €50.0 million in funding available to us under the amended SIGNA Holding RCF I will be repaid by issuing Additional Convertible Bonds in accordance with the terms and conditions of the SIGNA Holding Equity Commitment Letter to SIGNA Holding. On January 26, 2023, we received waivers from the lenders under the LBBW RCF waiving the requirement to comply with the net leverage covenant through the period ending June 2024 and the minimum EBITDA covenant for the testing period ending on September 30, 2023 and maintaining the available liquidity covenant at €30.0 million for each testing date after March 31, 2023. SIGNA Retail Selection Group (Refer Note 13. Related party transactions) underwent a restructuring in December 2022. As a result of the restructuring, the Company is subject to potential forfeitures of tax assets from losses carried forward of up to €1.6 million. |
Summary of significant accoun_2
Summary of significant accounting judgements, estimates, and significant accounting policies (Policies) | 12 Months Ended |
Sep. 30, 2022 | |
Accounting Polices [Abstract] | |
Significant accounting judgements and estimates | Th e preparation of the consolidated financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of income, expenses, assets and liabilities, and the accompanying disclosures. Actual results could differ from those estimates. Estimates and underlying assumptions are reviewed on an ongoing basis and revisions of estimates are recorded prospectively. Judgements Information about judgements made in applying accounting policies that have the most significant effects on the amounts recognized in the consolidated financial statements is included hereinafter: Leases The Group exercises judgement in determining the lease term as the non-cancellable term of the lease, together with the impact of options to extend or terminate the lease if it is reasonably certain to be exercised. The Group assesses whether it is reasonably certain to exercise the option to renew. In doing so, management considers all relevant factors that create an economic incentive for it to exercise the renewal. After the commencement date, management reassesses the lease term if there is a significant event or change in circumstances that is within its control and affects its ability to exercise the option to renew. Further information can be found in Note 7.4. CGUs / Goodwill Significant judgement is required by the Group for the determination of the cash generating units (CGUs) and the allocation of goodwill related to business combinations. Synergies are expected to be realized across the whole group from the expansion of existing business activities. Therefore, goodwill is allocated to the CGU groups Internetstores, Wiggle, Publikat, Tennis EU, Tennis US and OUTFITTER, Teamsport & Ballside. Further information can be found in Note 7.2. Share based payments On the grant date of each share-based payment agreement, judgement is required by the Group regarding the probability of the occurrence of future non-market conditions. The Group assesses the likelihood of meeting future non-market conditions on a case-by-case basis. In case the fulfillment of non-market conditions is more likely than not, the Group recognizes share based payments in accordance with IFRS 2. Further information can be found in Note 7.12. Yucaipa Warrants The Group exercises judgement in determining whether the Yucaipa Warrants were assumed as part of the DE-SPAC Transaction and, consequently, whether the assumption of such warrants constitutes a liability if those warrants are classified as financial liabilities in accordance with IAS 32. The Group assessed the specific facts and circumstances of the DE-SPAC Transaction and the terms and conditions of all associated agreements, including the Warrant Assignment, Assumption and Amendment Agreement, in making this determination. Accordingly, the Group concluded that the Yucaipa Warrants were assumed as part of the DE-SPAC Transaction and replaced with SSU Warrants. The SSU Warrants are accounted for as financial liabilities in accordance with IAS 32. Further information can be found in Note 3. Related parties Familie Benko Privatstiftung, a trust incorporated under Austrian law which has an independent management board which controls its own succession, is the ultimate beneficial owner of the shares held in SSU N.V by SIGNA International Sports Holding GmbH (SISH) in accordance with applicable US securities laws and SEC regulations. The trustors are Mr. René Benko and Ms. Ingeborg Benko and the members of the management board are Dr. Dieter Spranz, Dr. Marcus Mühlberger and Ms. Karin Furhmann. As of September 30, 2022, Familie Benko Privatstiftung indirectly holds interest in the SSU N.V through multiple holding companies also involving other minority shareholders. In assessing SSU N.V’s related party relationships, management exercised judgement in determining the Company’s ultimate controlling party in accordance with IAS 24.13 and concluded that neither Familie Benko Privatstiftung, nor its trustors René Benko or Ingeborg Benko are considered the ultimate controlling party of SIGNA Sports United. In reaching this conclusion, management took into consideration the governance structure of the Familie Benko Privatstiftung which holds an indirect interest in the SSU N.V as well as other contractual relationships at multiple shareholder levels. As a result of the analysis, management concluded that Familie Benko Privatstiftung was an investor with significant influence and that SIGNA Retail GmbH was the ultimate controlling party of SSU N.V as of September 30, 2022. Further information can be found in Note 13. Key assumptions and sources of significant estimation uncertainty Some accounting and valuation methods require estimates to be made on the basis of complex and subjective judgements using assumptions, including for matters which are inherently uncertain and subject to change. These accounting estimates may change from period to period and have a significant effect on income, expenses and results, as well as the financial position and cash flows. Accounting estimates may also include estimates where management could reasonably have made a different estimate in the current accounting period compared to prior periods. Even though these estimates and assumptions were made to the best of management’s knowledge, actual results may differ. Estimates and assumptions are reviewed on an ongoing basis. Changes in estimates and assumptions are recognized in the period in which the changes first occur and for future periods affected by the changes. Management expressly points out that future events often deviate from forecasts and that estimate must be adjusted regularly. Impairment of goodwill Goodwill is not amortized but is tested for impairment at least annually and whenever there is an indication that goodwill may be impaired. For the purpose of impairment testing, goodwill is allocated to each CGU or group of CGUs expected to benefit from the synergies of the business combination. The assessment of impairment is based on management’s judgement, in particular with regard to expected future discounted cash flows. The assessment of discounted future cash flows is based on key assumptions regarding revenues, costs and discount rates, as well as assumptions regarding future product portfolios, market penetration, market developments, the success of the integration of the acquired businesses and growth . Although the current assumptions (see Note 7.2) are considered reasonable and appropriate by management, a change in the assumptions may have a material impact on the items reported in the financial statements and result in the recognition of impairment losses or reversals of impairment losses in future periods. Impairment of intangible assets with indefinite useful lives Intangible assets with indefinite useful lives are not amortized but are tested for impairment at least annually and whenever there is an indication that the asset may be impaired. If there is an indication of impairment, the recoverable amount of those assets is determined by assessing the higher of the fair value less cost of disposal of the individual asset and the value in use for the CGU to which the intangible assets belongs. Although the current assumptions (see Note 7.2) are considered reasonable and appropriate by management, a change in the assumptions may have a material impact on the items reported in the financial statements and result in the recognition of impairment losses or reversals of impairment losses in future periods. Further information on the impairment test and subsequent measurement of goodwill and assets with indefinite useful lives is provided in Note 7.2 Business combinations As a result of business combinations, SIGNA Sports United Group has reported goodwill in the consolidated statement of financial position. In a business combination, all identifiable assets, liabilities and contingent liabilities acquired are recognized at their fair values on the acquisition date. One of the most important estimates relates to the determination of the fair value of these assets, liabilities and contingent liabilities. In order to assess purchase price allocations, management of SIGNA Sports United Group uses appropriate valuation techniques to determine the fair value of the acquired assets, liabilities and contingent liabilities. These valuations are dependent on assumptions and assessments made by management (and supported by third party experts where deemed necessary) with regard to the future development of the assets concerned and changes in discount rates. Leases When accounting for leases under IFRS 16, certain assumptions and estimates are made by management, in particular when determining the discount rate (incremental borrowing rate). Further information can be found in Note 7.4. Revenue A particular degree of judgement is required in determining sales deductions for returns from customers, which are mainly estimated on the basis of experience from specific contractual obligations. The estimate of return rates or revocation rates results from the assessment of actual empirical observations, such as historical sales channel-related return rates. Further information can be found in Note 6.1. Critical judgments and accounting estimates The accounting policies that most frequently or significantly requires the Group to make judgments, estimates and assumptions and therefore are critical to understand our results of operations include the following, which are explained in the respective accounting policies below: • Revenue recognition Estimates and assumptions are required in determining sales deductions for returns from customers, which are mainly estimated on the basis of experience from specific contractual obligations. • Business combinations One of the most important estimates relates to the determination of the fair value of these assets, liabilities and contingent liabilities. Management of SIGNA Sports United Group uses appropriate valuation techniques to determine the fair value of the acquired assets, liabilities and contingent liabilities. These valuations are dependent on assumptions and assessments made by management with regard to the future development of the assets concerned and discount rates applied (see Note 15). • Impairment of goodwill and assets with indefinite useful lives The assessment of impairment is based on discretionary decisions by management, in particular in regard to assumptions for revenue growth, discount rates and EBITDA (which is defined as consolidated net income (loss) before interest, income taxes, depreciation, and amortization) plus impairment. |
Measurement | Measurement The consolidated financial statements have been prepared on a historical cost basis, except for certain items such as derivative financial instruments, hedging transactions and pensions and similar obligations. The basis of measurement for these exceptions is described in the respective paragraphs below. |
Principles of consolidation | Principles of consolidation The consolidated financial statements include the financial statements of SIGNA Sports United N.V. and the financial statements of all subsidiaries directly or indirectly controlled by SIGNA Sports United N.V.. Control exists only if the parent company has power of disposal over the subsidiary, is exposed to positive and negative returns and is in a position to influence the level of variable returns based on voting or other rights. The Group’s interests in equity-accounted investees comprises joint ventures, namely Teamstolz GmbH and AEON SIGNA Sports United Co., Ltd.. A joint venture is an arrangement in which the Group has joint control, whereby the Group has rights to the net assets of the arrangement, rather than rights to its assets and obligations for its liabilities. Interests in the joint venture are accounted for using the equity method. They are initially recognized at cost, which includes transaction costs. Subsequent to initial recognition, the consolidated financial statements include the Group’s share of the profit or loss and other comprehensive income of equity accounted investees, until the date on which significant influence or joint control ceases. The financial statements of the consolidated subsidiaries included in the consolidated financial statements are generally prepared as of the balance sheet date of the parent entity. The financial statements of SIGNA Sports United N.V. and its subsidiaries included in the consolidated financial statements are prepared in accordance with uniform accounting policies. All intercompany assets and liabilities, equity, income and expenses, as well as cash flows from transactions between the consolidated companies are eliminated in full as part of the consolidation process. Acquisitions of companies that are not under common control are accounted for using the purchase method in accordance with IFRS 3 at the time of acquisition. Changes in shareholdings in Group companies which reduce or increase the shareholding of SIGNA Sports United N.V. without loss of control are accounted for as equity transactions between owners. |
Foreign currency | Foreign currency Transactions in foreign currencies are initially recognized in the functional currency by applying the spot rate prevailing at the time of the transaction to the foreign currency amount. Resulting currency gains and losses from currency translation are directly reported in the consolidated statement of profit or loss within the “ Finance income and Finance costs”. Differences arising from the translation of the financial statements of companies outside the euro zone are reported under equity in accordance with IAS 21 and reclassified to the consolidated statement of profit or loss when the gain or loss on disposal of SIGNA Sports United Group is recognized. The financial information of the companies included in the scope of consolidation of SIGNA Sports United Group, whose functional currency is not the euro, is translated into the reporting currency of the consolidated financial statements as of the balance sheet date. Closing rates are used for the translation of the Financial Position, while average rates for the reporting period are used for the translation of the consolidated statement of profit or loss and other comprehensive Income. Non-monetary items that are measured based on historical cost in a foreign currency are translated at the exchange rate at the date of the transaction. |
Business combinations | Business combinations Business combinations that are not carried out under common control are accounted for using the acquisition method in accordance with IFRS 3 at the time of the acquisition. Acquisition costs are determined at the fair value of the assets given and liabilities taken over as well as on the basis of agreed contingent consideration at the time of acquisition. Incidental acquisition costs are expenses in the reporting period. Identifiable assets acquired and liabilities assumed in a business combination (including contingent liabilities) are initially measured at their fair values at the acquisition date, irrespective of non-controlling interests. A positive difference between the acquisition cost including the fair value of the non-controlling interest and the acquired assets and liabilities is recognized as goodwill. SIGNA Sports United N.V. applies the full goodwill method by way of business combination. In the case of acquisitions concluded in stages, the fair values of the assets and liabilities of the acquired company are measured in accordance with IFRS 3 “Business Combinations” on the date on which the control is obtained. Resulting adjustments to the fair value of the existing shares are recognized in the consolidated statement of profit or loss. The carrying amount of the assets and liabilities already recognized in the consolidated statement of financial position is adjusted accordingly. The application of the acquisition method requires certain estimates and assumptions, especially with regard to the fair values of the acquired intangible assets, property, plant and equipment and liabilities assumed at the time of acquisition, as well as the useful lives of the acquired intangible assets and property, plant and equipment. The valuation is primarily based on expected cash flows. If the actual cash flows differ from those used in the calculation of fair values, this may have a material impact on future operating results. The valuations are based on the information available at the time of acquisition. The valuation of the indefinite life intangible assets is based on the relief from royalty method at the time of the acquisition. |
Discontinued operations | Discontinued operations A discontinued operation is a component of an entity that either has been disposed of, or that is classified as held for sale. It must either: represent a major separate line of business or geographical area of operations; be part of a single coordinated disposal plan; or be a subsidiary acquired exclusively with a view to resale. Intercompany transactions between continuing and discontinued operations are eliminated against continuing operations. Non-current assets and disposal groups are not classified as assets held for sale if their carrying amount is to be recovered through continuing use. In 2022, the Group decided to end its Stylefile business activities during the fourth quarter of 2022. The Group assessed that ending the activities of Stylefile within Publikat would qualify as a discontinued operation. Therefore, the profit or loss related to the Stylefile business is presented in a separate line item of the consolidated profit and loss section of the statements of profit or loss and other comprehensive income and consolidated statements of cash flow for the year ended September 30, 2022, 2021 and 2020. The segment reporting note and notes to the consolidated financial statements for the years ended September 30, 2022, 2021 and 2020 mainly represent continuing operations. On November 21, 2022, the Group entered into an ‘Asset Sale and Purchase Agreement - ASPA’ to sell specific assets (mainly inventories, trademarks/domains and customer relationships) from its discontinued Stylefile business. The expected closing date of this agreement is July 31, 2023. For the period from November 1, 2022, until the closing date July 31, 2023, a ‘Transitional Service Agreement - TSA’ has been signed with the purchaser. According to the TSA, Publikat will resume the operations of Stylefile on behalf of the buyer until the transaction is finalized on the expected closing date of July 31, 2023. Accordingly, the Group no longer bears the economic risk or the profits/losses from the sales activities for Stylefile as of November 1, 2022. |
Goodwill and assets with indefinite useful lives | Goodwill and assets with indefinite useful lives Groups of CGUs to which goodwill has been allocated are tested for impairment annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the CGU or group of CGU is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit. An impairment loss recognized for goodwill is not reversed in a subsequent period. Intangible assets with an indefinite useful life are tested for impairment at least annually and whenever there is an indication that the asset may be impaired. If there is an indication of impairment, the recoverable amount is determined for the CGU to which the intangible asset belongs. If the recoverable amount of the CGU is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any intangible assets with an indefinite useful life allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit or whichever method reflects best the impairment. If an indication arises that the reasons for impairment no longer exist, a review is carried out to determine whether a reversal of the impairment loss is required in whole or in part. Therefore, the carrying amount is written up to the recoverable amount, but not higher than the amortized cost of the asset, as if no impairment had taken place. Further information can be found in Note 7.2. |
Intangible assets | Intangible assets Acquired intangible assets are initially measured at cost, whereas intangible assets acquired in a business combination are measured at fair value. After initial recognition, intangible assets are accounted for using the cost model. Amortization of intangible assets with finite useful lives is calculated using the straight-line method. The estimated useful life and the amortization method are reviewed annually at the end of the reporting period and any changes in the useful life are accounted for prospectively. Amortization of intangible assets is recognized in the consolidated statement of profit or loss. For further information on intangible assets, please see Note 7.1. Besides scheduled amortization, an impairment test is performed if relevant events or changes in circumstances indicate that intangible assets may be impaired. If the carrying amount of an intangible asset exceeds its recoverable amount, the intangible asset is impaired. An impairment loss is recognized in the amount by which the carrying amount exceeds the recoverable amount. Assets are grouped at the lowest levels for which there are separately identifiable cash inflows which are largely independent of the cash inflows from other assets or groups of assets (CGUs). If the reasons for impairment no longer exist, the impairment loss is reversed up to the amortized cost of the intangible asset. Costs for internally generated intangible assets are capitalized in the consolidated statement of financial position, provided that these costs can be clearly assigned to the development phase and where the following criteria are met: • it is technically feasible to complete the intangible asset so that it will be available for use • management intends to complete the intangible asset and use or sell it • there is an ability to use or sell the intangible asset • it can be demonstrated how the intangible asset will generate probable future economic benefits • adequate technical, financial and other resources to complete the development and to use or sell the intangible asset are available, and • the expenditure attributable to the intangible asset during its development can be reliably measured. The estimated useful lives of intangible assets are as follows: Intangible assets Average useful life Software 3 - 8 years Customer relationships Lower of the contract term and the useful economic life Internally developed 3 - 5 years Other intangible assets 3 - 5 years Intangible assets with indefinite useful lives mainly relate to acquired brands and Internet domains. An analysis of product life cycle studies and market and competitive trends provides evidence that brands and Internet domains will generate appropriate revenues for the Group for an indefinite period. Gains or losses arising from derecognition of intangible assets are recognized based on the difference between the net realizable value and the carrying amount of the intangible asset. The gain or loss is recognized in the consolidated statement of profit or loss in the period in which the intangible asset is derecognized. |
Property, plant and equipment | Property, plant and equipment Property, plant and equipment is measured at cost less accumulated depreciation and impairment losses. The cost of property, plant and equipment consists of expenses that must be incurred to acquire an asset and bring it to working condition. Subsequent costs, including repair and maintenance costs, are only recognized as part of the cost of an existing asset or, if applicable, as a separate asset, if it is probable that SIGNA Sports United Group will receive the future economic benefits attributable to the asset and the cost of the asset can be measured reliably. Expected future expenses for the removal of tenant fixtures upon the future termination of rental contracts are capitalized and depreciated through the expected rental term. All other expenses (e.g. for ongoing repairs and maintenance) are expensed as incurred. Property, plant and equipment is depreciated on a straight-line basis over the following useful lives: Property, plant and equipment Average useful life Buildings Up to 40 years Technical facilities and machines 4 - 13 years Other facilities, operating and business equipment 3 - 10 years Leasehold improvements Shorter of useful life and the term of the underlying lease In addition to depreciation and amortization, an impairment test is carried out and, if necessary, an impairment loss is recognized if there are relevant events or changes in circumstances that indicate that an impairment of property, plant or equipment may have occurred. Property, plant and equipment is derecognized from the accounts either at the time of disposal or when no further economic benefit is derived from the respective items. Gains or losses on disposal or retirement are recognized in the consolidated statement of profit or loss in the period in which they arise. Remaining carrying amounts and estimated useful lives as well as depreciation methods are reviewed annually and adjusted, if necessary. |
Right of return | Right of return For certain categories of goods customers have a right to return these goods within a specified period. Return allowances, which reduce net revenues, are estimated based on historical experiences. The Group updates its estimates on a quarterly basis. For goods that are expected to be returned from the customers, the Group recognizes a refund liability (included in other current liabilities in the consolidated statement of financial position). The liability is measured at the amount the Group ultimately expects it will have to return to the customer. A right of return asset (included in Inventories in the consolidated statement of financial position) and corresponding adjustment to cost of sales is also recognized for the right to recover products from the customers. |
Leases | Leases The Group assesses at contract inception of the lease whether a contract is, or contains a lease. The Group recognizes a right-of-use asset and a corresponding lease liability for all leases where the Group is the lessee. The Group elected to apply an exemption for low value leases as well as short-term leases in accordance with IFRS 16. Lease payments associated with low value leases and short-term leases are expensed on a straight-line basis over the lease term. Accordingly, no right of use assets or lease liabilities are recognized. Upon initial recognition, the lease liability is measured at the present value of the lease payments not yet paid at the inception of the lease and is discounted on the basis of the interest rate underlying the lease. If this interest rate cannot be readily determined, the Group uses its incremental borrowing rate. The following lease payments are included in the measurement of the lease liability: • Fixed lease payments (including de facto fixed payments), less incentive payments to be received; • Variable lease payments based on an index or price, initially measured at the index or price at the inception of the lease; • Expected payments by the lessee due to residual value guarantees; • Exercise prices of purchase options if the lessee is reasonably certain that these will be exercised; and • Penalties for the premature termination of leases, if the term of the lease is based on the exercise of the right to terminate the lease. Subsequent measurement of the lease liability is made by increasing the carrying amount by the interest on the lease liability (using the effective interest method) and reducing the carrying amount by the lease payments made. In the following cases, the Group remeasures the lease liability and adjusts the corresponding right-of-use asset accordingly: • There has been a change in the lease term or there is a significant event or significant change in circumstances that results in a change in judgement with respect to the exercise of a purchase option. In this case, the lease liability is remeasured by discounting the adjusted lease payments at a revised discount rate. • The lease payments change due to index or exchange rate changes or due to a change in the expected payment to be made on the basis of a residual value guarantee. In these cases, the lease liability is remeasured by discounting the adjusted lease payments at an unchanged discount rate, unless the change in the lease payments is attributable to a change in a variable interest rate. In this case, an updated interest rate is to be applied. • A lease is amended and the amendment to the lease is not recognized as a separate lease. In this case, the lease liability is remeasured on the basis of the term of the amended lease by discounting the amended lease payments at an updated interest rate at the effective date of the amendment. Right-of-use assets are generally amortized over the term of the lease. However, if the useful life of the underlying asset is shorter than the term of the lease, the right-of-use asset shall be amortized over that period accordingly. This also applies in cases where a lease transfers ownership of the leased asset or where the Group deems the exercise of a purchase option agreed under the lease to be sufficiently certain and the exercise price is therefore already included in the cost of the right-of-use asset. Depreciation begins at the beginning of the lease. To assess the need for an impairment of a right-of-use asset, the Group applies IAS 36 and recognizes all impairment losses as described in the accounting policies for property, plant and equipment. |
Share-based Payment | Share-based Payment IFRS 2 “Share-based Payment” is applied in accounting for share-based payment schemes involving employees and other participants who render the respective services. In the case of equity-settled share-based payment, services are provided as consideration for equity instruments. The fair value of the services is determined at the grant date by reference to the fair value of the equity instruments. The fair value is recognized over the vesting period as personnel expenses with a corresponding increase in equity. The fair value of equity instruments is determined using valuation models such as the Black-Scholes formula or a Monte Carlo model. In the case of cash-settled shared-based payments a liability is recognized for the fair value of the cash-settled transaction. |
Fair value | Fair value A number of accounting policies and disclosures of SIGNA Sports United Group require the measurement of fair values for both financial and non-financial assets and liabilities. The valuation of assets and liabilities at fair value is based on the three-level “fair value hierarchy” or “level hierarchy” in accordance with IFRS 13 and the proximity of the valuation factors used to an active market. An active market is a market in which homogeneous products are traded, in which interested buyers and sellers can be found at any time and in which prices are publicly available. On the basis of the three-level measurement hierarchy, certain assumptions and estimates of management were used, in particular with regard to assets and liabilities at fair value, which were classified to Levels 2 and 3: Level 1: Quoted prices (unadjusted) in active markets for identical assets and liabilities. Level 2: Quoted prices other than those included in Level 1 that are observable, directly or indirectly, for the asset or liability. The fair value of Level 2 financial instruments is determined on the basis of the conditions prevailing at the end of the reporting period, such as interest rates or exchange rates, and using recognized models such as discounted cash flow or option pricing models. Level 3: Inputs for the asset or liability that are not based on observable market data (unobservable inputs). The fair value of Level 3 financial instruments was determined by reference to individual default expectations; these are based to a large extent on the Group’s assumptions regarding the creditworthiness of the counterparty. If the parameters used to determine the fair value of an asset or liability fall into different levels of the fair value hierarchy, the fair value measurement in its entirety is classified in the same level of the fair value hierarchy as the lowest input that is significant to the fair value measurement as a whole. Investments accounted for using the equity method Investments in associated companies are accounted for using the equity method. An associated company is a company over which SIGNA Sports United Group has significant influence, but not control. Under the equity method, shares in associated companies are capitalized in the consolidated statement of financial position at acquisition cost. Goodwill in connection with the acquisition of associated companies is not amortized but tested for impairment as part of the total investment in the associate. Subsequent to initial recognition, the consolidated financial statements include the Group’s share of the profit or loss and OCI of equity-accounted investees, until the date on which significant influence or joint control ceases. Intercompany profits or losses arising from transactions between SIGNA Sports United Group and its associates are eliminated to the extent of SIGNA Sports United Group’s interest in the associate. |
Financial assets | Financial assets SIGNA Sports United Group classifies its financial assets in the following measurement categories: • those to be measured subsequently at fair value either through OCI or through profit or loss (FVOCI or FVPL), and • those to be measured at amortized cost (AC) The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows. SIGNA Sports United Group reclassifies debt investments when and only when its business model for managing those assets changes. SIGNA Sports United Group recognizes a financial asset when, and only when, the Group becomes party to the contractual provisions of the instrument. Regular way purchases and sales of financial assets are recognized on trade date, the date that the Group commits to purchase or sell the asset. At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset measured not at fair value through profit or loss (FVPL), transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at FVPL are expensed in profit or loss. Subsequent measurement of financial assets depends on the Group’s business model for managing the asset and the cash flow characteristics of the asset: • Amortized cost: Financial assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortized cost. Interest income from these financial assets is included in finance income using the effective interest rate method. Any gain or loss arising on derecognition is recognized directly in profit or loss and presented in other gains/(losses) together with foreign exchange gains and losses. Impairment losses are presented as separate line item in the statement of profit or loss. For SIGNA Sports United Group, this category mainly comprises trade receivables, other financial assets (with the exception of derivatives and contingent receivables) and cash and cash equivalents. • FVOCI: Financial assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets’ cash flows represent solely payments of principal and interest on the principal amount outstanding, are measured at FVOCI. Movements in the carrying amount are taken through OCI, except for the recognition of impairment gains or losses, interest income and foreign exchange gains and losses which are recognized in profit or loss. When the financial asset is derecognized, the cumulative gain or loss previously recognized in OCI is reclassified from equity to profit or loss and recognized in other gains/(losses). Interest income from these financial assets is included in finance income using the effective interest rate method. Foreign exchange gains and losses are presented in other gains/(losses) and impairment expenses are presented as separate line item in the statement of profit or loss. Currently SIGNA Sports United Group does not hold any financial assets designated as FVOCI in accordance with IFRS 9. • FVPL: Financial assets that are not classified as measured at amortized cost or FVOCI are measured at FVPL. A gain or loss on a debt investment that is subsequently measured at FVPL is recognized in profit or loss and presented net within other gains/(losses) in the period in which it arises. Currently SIGNA Sports United Group does not hold any financial asset designated as at FVPLs. In accordance with the impairment provisions of IFRS 9, SIGNA Sports United Group applies the simplified approach to the valuation of expected credit losses (ECL), under which an allowance is made for trade receivables based on the expected losses over the term of the receivable. Due to the common default risk characteristics of company’s trade receivables, the expected losses over the term of the receivable are determined on the basis of external industry-related ratings and internally determined past default rates, unless there is objective evidence of an individual deterioration in creditworthiness. The external rating reflects current and future-oriented information on macroeconomic factors affecting the ability of customers to settle the receivables. For reasons of materiality, no value adjustments are made for cash and cash equivalents and other financial assets. Additionally, allowances for individual receivables are recognized if there is objective evidence of credit impairment. Objective indications may be payment arrears of a certain duration, the initiation of enforcement measures, the risk of insolvency or over indebtedness, the filing or opening of insolvency proceedings or the failure of restructuring measures. Account balances are written off either partially or in full if judged that the likelihood of recovery is remote. Allowances for doubtful accounts are regularly posted to separate allowance accounts. Trade receivables are eliminated from the accounts after a reasonable estimate has been made if they are no longer realizable. This is the case, for example, if the debtor fails to commit to a repayment schedule vis-à-vis the Group or if no other partial repayment is foreseeable. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Group has transferred substantially all the risks and rewards of ownership. |
Financial liabilities | Financial liabilities SIGNA Sports United Group recognizes a financial liability when, and only when, the Group becomes party to the contractual provisions of the instrument. Financial liabilities are categorized as either financial liabilities at fair value through profit or loss (FVPL) or financial liabilities at amortized cost. Financial liabilities are categorized as at FVPL if the financial liability is either held for trading or it is designated as at FVPL. Currently SIGNA Sports United Group holds warrants and put option liabilities at FVPL. Derivative financial liabilities for which hedge accounting is not applied are classified as held for trading upon initial recognition. Financial liabilities are initially recognized at fair value. Financial liabilities at FVPL are subsequently carried at fair value. Other financial liabilities, including trade payables and the remaining other financial liabilities, are initially measured at fair value, net of transaction costs. They are subsequently measured at amortized cost using the effective interest method, with interest expense recognized on an effective yield basis. The Group recognizes financial liabilities if, and only if, the Group’s obligations are discharged, cancelled or have expired. |
Offsetting financial assets and liabilities | Offsetting financial assets and liabilitiesFinancial assets and liabilities are offset and the net amount reported in the consolidated statement of financial position where the Group currently has a legally enforceable right to offset the recognized amounts, and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously. |
Derivative financial instruments and hedge accounting | Derivative financial instruments and hedge accounting Derivative financial instruments, such as forward contracts, are used in the Group to hedge foreign currency risks for balance sheet items and future cash flows. SIGNA Sports United Group does not hold derivatives for speculative trading purposes. Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently remeasured to their fair value at the end of each reporting period. Where the derivative is not designated as a cash-flow hedge, subsequent changes in the fair value are recognized in profit or loss. Such derivatives are classified as a current asset or liability. The group designates certain derivatives as cash flow hedges to hedge particular risks associated with the cash flows of recognized assets and liabilities and highly probable forecast transactions. At inception of the hedge relationship, the Group documents the economic relationship between hedging instruments and hedged items including whether changes in the cash flows of the hedging instruments are expected to offset changes in the cash flows of hedged items. The Group documents its risk management objective and strategy for undertaking its hedge transactions. Currently the Group has only designated cash flow hedges. The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges is recognized in the cash flow hedge reserve within equity. The gain or loss relating to the ineffective portion is recognized immediately in profit or loss. When a hedging instrument matures, any gains or losses held in the cash flow hedge reserve are recycled to the statement of operations or inventory on the balance sheet when the related hedged item is recognized in the statement of operations or inventory on the balance sheet. If a hedge no longer meets the criteria for hedge accounting, or the forecast transaction is no longer likely to occur, the cumulative gain or loss reported in equity is immediately reclassified to profit or loss. |
Inventories | Inventories Inventories are valued at the lower of cost and net realizable value. The net realizable value is the estimated selling price of goods, minus the cost of their sale or disposal. In general, acquisition costs are determined using the weighted average purchase price, adjusted for reductions, e.g. from discounts, and ancillary acquisition costs, e.g. from customs duties. If circumstances which previously caused inventories to be written down below cost no longer exist or if there is clear evidence of an increase in net realizable value due to changed economic circumstances, the amount of the write-down is reversed. Further information can be found in Note 7.6. |
Provisions | Provisions Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognized as finance cost. Provisions are measured in accordance with IAS 37 “Provisions, Contingent Liabilities and Contingent Assets,” or, if applicable, IAS 19 “Employee Benefits.” If it is expected that the cash flow required to settle an obligation will occur after one year, the provision is measured at the present value of the expected cash flow. Claims for reimbursement by third parties are shown separately in the consolidated statement of financial position if their realization is virtually certain. Further information can be found in Note 7.13. |
Contingent liabilities | Contingent liabilities Contingent liabilities are possible obligations resulting from past events whose existence will only be confirmed by the occurrence of one or more uncertain future events that are not entirely within the control of SIGNA Sports United Group. Furthermore, contingent liabilities can be current obligations resulting from past events but which are not recognized in the consolidated statement of financial position because it is not probable that an outflow of resources will be required to settle the obligation or the amount of the obligation cannot be measured with sufficient reliability. In accordance with IAS 37, such contingent liabilities are not recognized in the consolidated statement of financial position but disclosed in the notes. |
Revenue recognition | Revenue recognition Revenue is measured at the calculated transaction price including any effects of variable consideration, financing components, non-cash consideration and payments to customer. Revenue is recognized when the Group has satisfied the underlying performance obligations. Revenue from the sale of merchandise is recognized on delivery of goods to the end consumer, which represents the point in time at which control transfers to the consumer and the Group’s performance obligation is satisfied. Thus, transportation is not considered as separate performance obligation since customer obtains control of the goods after transport is completed. Revenue from the sale of merchandise is recognized at net value, i.e. after deduction of sales tax, returns, prepayments, customer discounts and rebates. Sales transactions generally include the right of the buyer to return the goods within a certain period of time. Sales deductions, including for returns from customers, are estimated mainly on the basis of past experience and specific contract provisions. Services (e.g. repair, product configuration, flocking) are recognized at the time of service provision, i.e. when the service is completed. The services that are offered by the Group usually run for a short period of time only. Accordingly, the revenue is recognized at a point in time rather than over a period. Payment for the purchased goods or services is generally made either before delivery or when service is performed. In case of payment by invoice payment is due within short time after sending the goods to the customer. Cash is collected by the Group from the end consumer using payment service providers. A contract liability is recognized for customer advances as well as for unredeemed gift certificates. |
Income taxes | Income taxes Income tax expense comprises current and deferred tax. It is recognized in profit or loss except to the extent that it relates to a business combination, or items recognized directly in equity or in OCI. Management has determined that interest and penalties related to income taxes, including uncertain tax treatments, do not meet the definition of income taxes, and therefore accounted for them under IAS 37 Provisions, Contingent Liabilities and Contingent Assets. Current income taxes The current income tax expense is determined by applying the tax regulations in force on the balance sheet date in the countries in which SIGNA Sports United Group operates. Estimates are required in determining income taxes. The valuations by the relevant tax authorities may deviate from these estimates. This uncertainty is taken into account by the fact that uncertain tax positions are only recognized if SIGNA Sports United Group estimates the probability of their occurrence to be more than 50%. Deferred income taxes Deferred taxes are recognized in accordance with IAS 12 on temporary differences between the carrying amounts of assets and liabilities in the consolidated financial statements and the amounts used for tax purposes. In addition, deferred tax assets are recognized for tax loss carryforwards and interest carryforwards. Deferred tax liabilities are recognized for all taxable temporary differences. Deferred tax assets are recognized for deductible temporary differences, tax loss carryforwards and interest carryforwards to the extent that it is probable that sufficient taxable income will be available in the future against which deductible temporary differences and/or tax loss carryforwards can be offset. Deferred taxes are measured at the tax rates that are expected to apply in the period in which the asset is realized or the liability settled. Deferred tax assets and liabilities arising from temporary differences in connection with investments in subsidiaries, branches and associates, and interests in joint arrangements shall be recognized, except to the extent that both of the following conditions are satisfied: the parent, investor, joint venturer or joint operator is able to control the timing of the reversal of the temporary differences; and it is probable that the temporary differences will not reverse in the foreseeable future. |
IFRIC 23 Uncertainty over Income Tax Treatments | IFRIC 23 Uncertainty over Income Tax Treatments IFRIC 23 clarifies the application of the recognition and measurement requirements of IAS 12 when there is uncertainty about the income tax treatment. For recognition and measurement, estimates and assumptions must be made, e.g., whether an estimate is made separately or together with other uncertainties, a most likely amount or expected amount for the uncertainty is used and whether changes have occurred compared to the previous period. The risk of detection from tax authorities is irrelevant for the recognition of uncertain balance sheet items. Accounting is based on the assumption that the tax authorities are investigating the matter in question and that they have all relevant information at their disposal. There are no material effects on the consolidated financial statements of the Group. |
Segment reporting | Segment reportingManagement of SIGNA Sports United N.V. has appointed a strategic steering and control committee for SIGNA Sports United Group that evaluates the financial performance and situation of SIGNA Sports United Group and makes strategic decisions. This committee acts as Chief Operating Decision Maker (“CODM”). The steering and control committee consists of the Chief Executive Officer and the Chief Financial Officer. Based on the current reporting structures and decision-making processes, SIGNA Sports United N.V. identified five operating segments, which are represented as three reportable segments (see Note 17) |
Effects of new IFRS applicabl_2
Effects of new IFRS applicable for the first time and in future periods (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Applicability Of Accounting Standards [Abstract] | |
Standards to be Applied in Future Periods and Standards Applied for the First Time | Standard / Interpretation Effective date IFRS 17 Insurance Contracts 1/1/2023 Disclosure of Accounting Policies (Amendments to IAS 1 and IFRS Practice Statement 2) 1/1/2023 Definition of Accounting Estimate (Amendments to IAS 8) 1/1/2023 The following standards and interpretations were applied for the first time to these consolidated financial statements. Standard / Interpretation Interest Rate Benchmark Reform – Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16) COVID-19-Related Rent Concessions beyond 30 June 2021 (Amendment to IFRS 16) Onerous Contracts – Cost of Fulfilling a Contract (Amendments to IAS 37) Annual Improvements to IFRS Standards 2018-2020 Property, Plant and Equipment: Proceeds before Intended Use (Amendments to IAS 16) Reference to the Conceptual Framework (Amendments to IFRS 3) |
Summary of significant accoun_3
Summary of significant accounting judgements, estimates, and significant accounting policies (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Accounting Polices [Abstract] | |
Summary of Estimated Useful Lives of Intangible Assets | The estimated useful lives of intangible assets are as follows: Intangible assets Average useful life Software 3 - 8 years Customer relationships Lower of the contract term and the useful economic life Internally developed 3 - 5 years Other intangible assets 3 - 5 years |
Summary of Estimated Useful Lives of Property, Plant and Equipment | Property, plant and equipment is depreciated on a straight-line basis over the following useful lives: Property, plant and equipment Average useful life Buildings Up to 40 years Technical facilities and machines 4 - 13 years Other facilities, operating and business equipment 3 - 10 years Leasehold improvements Shorter of useful life and the term of the underlying lease |
Notes to the Consolidated sta_4
Notes to the Consolidated statements of Profit and Loss and Other Comprehensive Income (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Profit or loss [abstract] | |
Summary of Revenue | September 30, EUR million 2022 2021 2020 Revenue from the sale of merchandise 1,055.6 813.1 643.0 Revenue from the sale of services 7.2 0.6 1.4 Total 1,062.8 813.7 644.4 |
Summary of Geographical Information on Segment Revenues | The following table shows the geographical breakdown of external revenues: EUR million Tennis Bike & Outdoor Teamsport Revenue for the year ended Sept. 30, 2022 Germany 63.3 202.8 29.4 295.6 Switzerland 8.5 66.9 4.8 80.1 United Kingdom 8.5 158.5 — 167.0 Austria 12.3 21.3 0.5 34.1 France 30.0 81.1 1.8 113.0 United States of America 87.9 15.0 — 102.9 Rest of the world 48.6 217.7 3.9 270.2 Total 259.0 763.4 40.4 1,062.8 The geographical information on segment revenues from the previous years is broken down as follows: EUR million Tennis Bike & Outdoor Teamsport Revenue for the year ended Sept. 30, 2021 Germany 59.7 188.5 30.3 278.5 Switzerland 7.6 72.8 2.3 82.7 United Kingdom 8.1 9.9 — 18.1 Austria 11.1 22.0 1.0 34.1 France 18.6 104.7 1.9 125.3 United States of America 16.8 — — 16.8 Rest of the word 43.5 208.9 5.7 258.2 Total 165.4 607.0 41.2 813.7 EUR million Tennis Bike & Outdoor Teamsport Revenue for the year ended Sept. 30, 2020 Germany 53.9 172.4 19.7 245.9 Switzerland 6.2 74.1 — 80.3 United Kingdom 6.7 0.1 — 6.8 Austria 11.1 17.3 0.9 29.4 France 19.7 78.8 0.5 99.0 United States of America 0.2 — — 0.2 Rest of the word 27.7 154.7 0.5 182.9 Total 125.5 497.4 21.6 644.4 |
Summary of Refund Liabilities | The following table provides information about the Group’s refund liabilities from contracts with customers: September 30, EUR million 2022 2021 2020 Refund liabilities arising from right of return 13.3 10.7 10.1 |
Summary of Own Work Capitalized | September 30, EUR million 2022 2021 2020 Own work capitalized 5.5 3.4 3.0 Total 5.5 3.4 3.0 |
Summary of Other Operating Income | September 30, EUR million 2022 2021 2020 Other 5.2 5.4 0.5 Total 5.2 5.4 0.5 |
Summary of Personnel Expenses | September 30, EUR million 2022 2021 2020 Wages and salaries (114.2) (70.1) (52.1) Social contribution (21.8) (15.1) (11.7) Other personnel expenses (27.3) (3.8) (2.7) Total (163.3) (89.0) (66.5) |
Summary of Personnel | The following table shows the annual average number of employees within SIGNA Sports United Group: September 30, 2022 2021 2020 Employees 3,623 2,492 1,914 Total 3,623 2,492 1,914 |
Summary of Other Operating Expenses | September 30, EUR million 2022 2021 2020 Expenses for logistics and packaging (121.9) (81.0) (61.8) Marketing expenses (89.2) (62.7) (41.7) Expenses for warehousing, rents and similar expenses (8.2) (6.3) (9.6) Charges for payment services (18.6) (11.3) (8.5) Legal and consulting fees (64.5) (31.8) (7.1) IT expense (19.7) (14.2) (9.4) Administrative expenses (15.3) (7.3) (3.3) Temporary workers and other personnel related expenses (12.0) (11.9) (8.2) ECL allowance (2.2) (2.1) (3.9) Share listing expense (IFRS 2) (121.9) — — Other (7.7) (6.0) (3.3) Total (481.1) (234.5) (156.8) |
Summary of Finance Income and Cost | September 30, EUR million 2022 2021 2020 Finance income Interest income 1.8 4.0 0.7 Other financial income 34.9 0.8 0.1 Total 36.6 4.8 0.9 Finance cost Interest expense for financial liabilities carried at amortized cost (5.7) (8.1) (7.7) Other financial expenses (15.3) (1.1) (0.1) Interest expense for lease liabilities (IFRS 16) (0.3) (0.2) (0.1) Total (21.3) (9.4) (7.9) Net finance income (costs) 15.3 (4.6) (7.1) |
Summary of Share Listing Expense | Details of the calculation of the Share listing expense are as follows: EUR million, except per share data Shares to be issued by TopCo to Yucaipa A 12.6 Yucaipa's closing price per share as of December 14, 2021 B 8.8 Fair value of shares deemed issued (A x B) C 110.1 Yucaipa's net assets D 7.3 Fair value of the deemed issued Warrants E 19.0 Excess of Fair value of shares over Yucaipa's net assets acquired incl. Warrants (C - D + E) F 121.9 |
Summary of Income Taxes | Income tax benefits/(expenses) recognized in the consolidated statements of profit or loss September 30, EUR million 2022 2021 2020 Current income tax (2.0) (1.7) (0.5) Deferred income tax 28.6 0.1 2.4 Total 26.6 (1.6) 1.9 |
Summary of Income Tax Expenses and Benefits | The current income tax expenses and benefits are as follows: September 30, EUR million 2022 2021 2020 Earnings before taxes (565.9) (36.2) (22.6) Expected income tax rate (of the parent company) 30.2 % 30.2 % 33.0 % Income tax benefits based on the expected income tax rate 170.8 10.9 7.4 Increase (decrease) in income tax expense due to: Differences between the company’s domestic and foreign tax rates (5.3) 0.3 (0.7) Non-deductible operating expenses (145.8) (0.5) (0.4) Effects of prior year taxes (1.6) 0.0 0.1 Non-taxable income 132.4 — — Non-recognition of deferred tax assets from temporary differences and tax loss carryforwards (13.9) (12.1) (4.0) Non-deductible share listing expenses (36.8) — — Non-deductible goodwill impairment losses (73.5) — — Other 0.3 (0.2) (0.5) Total income tax benefit (expense) on continuing operations 26.6 (1.6) 1.9 Effective tax rate (4.7 %) 4.4 % (8.2 %) |
Summary of Earnings per Share ("EPS") | The calculation of earnings/(loss) per share is as follows: September 30, EUR million 2022 2021 2020 Earnings Earnings for the purposes of basic earnings per share being net profit attributable equity holders of the parent entity from continuing operations (539.3) (37.7) (19.8) Number of shares in millions Weighted average number of ordinary shares for the purposes of basic earnings per share 316.5 202.5 202.5 Basic and diluted loss per share from continuing operations in EUR (1.7) (0.2) (0.1) Weighted average number of ordinary shares: September 30, in millions of shares 2022 2021 2020 Issued ordinary shares at October 1 202.5 202.5 17.3 Effect of shares issued in October 2019 — — 0.3 Effect of reorganization 45.4 — 184.9 Effect of shares issued in December 2021 67.1 — — Effect of shares issued in February 2022 0.0 — — Effect of shares issued in March 2022 1.4 — — Effect of shares issued in May 2022 0.1 — — Effect of shares issued in September 2022 0.0 — — Weighted average number of ordinary shares at September 30 316.5 202.5 202.5 |
Summary of Antidilutive Securities Excluded from Computation of Earnings Per Share | Potential dilutive securities that are not included in the diluted per share calculations because they would be anti-dilutive are as follows: September 30, in millions of shares 2022 2021 2020 Earn-out shares 51.0 — — Employee options 0.6 1.3 — Employee RSUs 0.8 — — Board LTI RSUs 0.3 — — Convertible loan — 1.6 1.6 |
Notes to the Consolidated Sta_5
Notes to the Consolidated Statements of Financial Position (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Statement of financial position [abstract] | |
Summary of Intangible assets | The intangible assets as of September 30, 2022, are as follows: EUR million Goodwill Software Domains Brands Customer relationships Internally developed software Other intangible assets Total Cost Balance as of Oct. 1, 2021 129.5 27.7 159.2 6.2 15.3 20.7 16.9 375.5 Business combinations 401.8 12.5 — 124.8 57.6 — 14.2 610.9 Additions — 5.1 0.1 0.1 0.0 1.0 28.0 34.4 Transfers 0.0 0.5 — 0.0 — 1.9 (2.5) 0.0 Disposals — (0.3) — — — (0.1) (0.9) (1.4) Currency translation difference (5.8) (0.4) (1.0) (3.4) (1.1) — (0.5) (12.1) Balance as of Sept. 30, 2022 525.4 45.1 158.4 127.8 71.8 23.5 55.2 1,007.2 Accumulated amortization Balance as of Oct. 1, 2021 0.0 (19.8) (1.4) (0.6) (12.5) (10.4) (3.8) (48.6) Additions* 0.0 (7.2) (0.2) (3.1) (6.3) (5.2) (3.9) (25.9) Impairment losses* (247.9) 0.0 (2.6) — — 0.0 (5.6) (256.1) Transfers — 0.0 0.0 — 0.0 0.0 0.0 0.0 Disposals — 0.3 — — — 0.1 (0.2) 0.2 Currency translation differences — 0.1 — 0.0 0.1 — 0.3 0.5 Balance as of Sept. 30, 2022 (247.9) (26.6) (4.2) (3.6) (18.8) (15.6) (13.2) (329.9) Carrying amount as of Sept. 30, 2022 277.6 18.5 154.2 124.1 53.0 7.9 42.0 677.3 *includes amounts of the discontinued operations, please refer to Note 11 The intangible assets as of September 30, 2021, are as follows: EUR million Goodwill Software Domains Brands Customer relationships Internally developed software Other intangible assets Total Cost Balance as of Oct. 1, 2020 118.4 21.8 158.5 5.6 13.9 15.1 14.6 347.9 Business combination 11.1 — — 0.5 1.3 — — 12.8 Additions — 3.2 0.1 0.0 0.0 1.8 9.1 14.3 Transfers 0.0 2.7 0.1 0.0 — 3.9 (6.7) 0.0 Disposals — (0.1) — — — — 0.0 (0.1) Currency translation differences — 0.0 0.5 — 0.0 — — 0.6 Balance as of Sept. 30, 2021 129.5 27.7 159.2 6.2 15.3 20.7 16.9 375.5 Accumulated amortization Balance as of Oct. 1, 2020 0.0 (15.0) (1.0) (0.5) (9.5) (6.4) (1.9) (34.2) Additions* 0.0 (4.9) (0.2) (0.1) (3.0) (4.1) (1.9) (14.2) Impairment losses — 0.0 (0.2) — — 0.0 — (0.2) Transfers — 0.0 0.0 — 0.0 0.0 0.0 0.0 Disposals — 0.1 — — — — — 0.1 Currency translation differences — 0.0 — 0.0 0.0 — — 0.0 Balance as of Sept. 30, 2021 0.0 (19.8) (1.4) (0.6) (12.5) (10.4) (3.8) (48.6) Carrying amount as of Sept. 30, 2021 129.5 7.9 157.8 5.6 2.7 10.3 13.1 326.8 |
Summary of Goodwill has been Allocated to Groups of CGU | Goodwill has been allocated to groups of CGUs as follow: EUR million CGU Group Internetstores CGU Group Publikat CGU Group Tennis US CGU Group Tennis CGU Wiggle CGU Group OUTFITTER Teamsport & Ballside Goodwill (September 30, 2022) 150.1 — 32.1 29.6 64.8 1.0 Goodwill (September 30, 2021) 88.9 4.1 — 35.4 — 1.0 |
Summary of Key Assumptions Used in the Impairment Test for CGU Groups | As of September 30, 2022 CGU Group Internetstores CGU Group Tennis US CGU Group Tennis CGU Group WACC (after taxes) 10.21 % 9.62 % 9.53 % 9.85 % Tax rate 30.53 % 27.00 % 30.21 % 28.08 % 6-year CAGR (Compound Annual Growth Rate) 20.06 % 12.70 % 17.61 % 13.06 % Growth rate terminal value 1.00 % 1.00 % 1.00 % 1.00 % Terminal value EBITDA margin 11.19 % 10.86 % 10.34 % 8.75 % Carrying amount in EUR million 441.0 40.8 85.1 22.2 As of September 30, 2021 CGU Group Internetstores CGU Group Publikat CGU Group Tennis CGU Group WACC (after taxes) 8.86 % 9.17 % 9.43 % 9.05 % Tax rate 26.50 % 28.08 % 28.98 % 31.93 % 5-year CAGR (Compound Annual Growth Rate) 25.63 % 15.87 % 21.09 % 19.56 % Growth rate terminal value 0.50 % 0.50 % 0.50 % 0.50 % Terminal value EBITDA margin 13.49 % 9.44 % 11.73 % 9.44 % Carrying amount in EUR million 293.2 44.2 105.7 20.8 The key assumptions used in the estimation of value in use were as follows: WACC 9.68 % Tax rate 25.00 % 5-year CAGR (Compound Annual Growth Rate) 16.10 % Growth rate terminal value 1.00 % Terminal value EBITDA margin 7.47 % Carrying amount in EUR million 533.2 |
Summary of Allocation of Carrying Amounts and Significant Assumptions Used in Determining Fair Value | The following table summarizes the allocation of carrying amounts and significant assumptions used in determining fair value less costs of disposal as of September 30, 2022: As of September 30, 2022 Internetstores Wiggle Group Tennis Outfitter Teamsport & Ballside WACC (after taxes) 10.07%-12.93% 9.95 % 9.53%-12.36% 9.82 % 6-year CAGR (Compound Annual Growth Rate) 20.06 % 12.70 % 17.61 % 13.06 % Royalty rate 0.72%-1.95% 1.00%-1.25% 0.57 % 0.92 % Carrying amount in EUR million 136.2 103.5 15.3 3.8 As of September 30, 2021 Internetstores Publikat Tennis Outfitter Teamsport & Ballside WACC (after taxes) 8.63% - 10.38% 9.01% - 10.42% 9.13% - 10.87% 9.04 % 5-year CAGR (Compound Annual Growth Rate) 25.63 % 15.87 % 20.63 % 19.56 % Royalty rate 0.72% - 5.27% 0.27 % 1.08% - 1.54% 1.17 % Carrying amount in EUR million 136.4 0.7 15.3 3.8 In the fiscal year ended September 30, 2022, the fair value less costs of disposal calculation indicated the need for impairments of intangible assets with an indefinite useful life within Internetstores, Wiggle Group and Tennis. As a result, the value in use was calculated for the following CGUs where the respective asset belongs using the following key assumptions: As of September 30, 2022 Bike Bike Outdoor Outdoor Tennis WACC 10.21 % 10.21 % 10.21 % 10.21 % 9.70 % Tax rate 30.53 % 30.53 % 30.53 % 30.53 % 30.21 % 5-year CAGR (Compound Annual Growth Rate) 20.14 % 20.14 % 20.14 % 20.14 % 18.11 % Growth rate terminal value 1.00 % 1.00 % 1.00 % 1.00 % 1.00 % Terminal value EBITDA margin 9.65 % 9.65 % 9.65 % 9.65 % 7.76 % Carrying amount in EUR million 65.2 32.0 9.7 13.0 15.3 |
Summary of Key Assumptions Used to Change for Significant Goodwill and Intangibles | Goodwill 2022 In percentage points Terminal Value EBITDA margin 6-year CAGR Headroom in EUR million CGU Group Internetstores (4.8) (8.3) 329.8 Goodwill 2021 In percentage points Terminal Value EBITDA margin 5-year CAGR CGU Group Internetstores (11.2) (10.0) CGU Group Tennis (7.9) (5.8) CGU Group Publikat (0.2) (2.9) As discussed above, due to the indication of impairment identified in the current fiscal year ended September 30. 2022, we have performed our analysis of significant intangible assets with an indefinite useful life on a CGU basis instead of on an asset level as in the prior fiscal year ended September 30, 2021. CGUs 2022 In percentage points Terminal Value EBITDA margin 5-year CAGR Headroom in EUR million Bike Switzerland (0.7) (1.5) 4.1 Outdoor Switzerland (1.3) (2.9) 2.7 Intangible assets with an indefinite useful life 2021 In percentage points 5-year CAGR Fahrrad.de (20.6) Bikester.ch (19.1) Internetstores (excl. Fahrrad.de and Bikester.ch) (30.2) Tennis (15.3) Outfitter Teamsport & Ballside (27.1) |
Summary of Property Plant And Equipment Excluding Right Of Use Assets | Property, plant and equipment excluding right-of-use assets accounted for in accordance with IFRS 16 are as follows as of September 30, 2022: EUR million Land and buildings Technical facilities and machine Other facilities, operating business equipment Assets under construction Total Cost Balance as of Oct. 1, 2021 4.6 11.7 41.0 1.1 58.4 Business combination 1.7 — 7.8 0.1 9.6 Additions 0.1 3.9 4.9 4.6 13.5 Transfers 0.2 0.4 1.4 (2.0) 0.0 Disposals 0.0 (0.6) (3.8) (0.3) (4.8) Currency translation differences (0.1) — (0.2) — (0.3) Balance as of Sept. 30, 2022 6.6 15.4 51.0 3.4 76.4 Accumulated depreciation Balance as of Oct. 1, 2021 (0.9) (3.1) (16.7) — (20.7) Additions* (0.6) (1.6) (5.7) — (7.9) Impairment loss — — (3.6) — (3.6) Disposals 0.0 0.6 3.6 — 4.2 Currency translation differences — — 0.0 — 0.0 Balance as of Sept. 30, 2022 (1.5) (4.1) (22.4) 0.0 (28.0) Carrying amount as of Sept. 30, 2022 5.1 11.3 28.6 3.4 48.5 *includes amounts of the discontinued operations, please refer to Note 11 Property, plant and equipment as of September 30, 2021, is: EUR million Land and buildings Technical facilities and machine Other facilities, operating business Assets under construction Total Cost Balance as of Oct. 1, 2020 3.9 10.2 31.6 4.3 49.9 Business combinations — — 0.1 — 0.1 Additions 0.3 0.8 3.6 5.2 9.8 Transfers 0.5 0.8 7.1 (8.4) — Disposals 0.0 0.0 (1.5) — (1.5) Currency translation differences — — — — — Balance as of Sept. 30, 2021 4.6 11.7 41.0 1.1 58.4 Accumulated depreciation Balance as of Oct. 1, 2020 (0.4) (1.8) (13.8) — (16.0) Additions (0.4) (1.1) (4.1) — (5.6) Impairment loss — (0.2) (0.1) — (0.4) Disposals 0.0 0.0 1.4 — 1.4 Currency translation differences — — 0.0 — 0.0 Balance as of Sept. 30, 2021 (0.9) (3.1) (16.7) 0.0 (20.7) Carrying amount as of Sept. 30, 2021 3.8 8.6 24.3 1.1 37.7 |
Summary of Detailed Information About Right of Use Assets Recognized | The right-of-use assets recognized in accordance with IFRS 16 are as follows as of September 30, 2022: EUR million Land and buildings Technical facilities and machine Other facilities, operating business Total Cost Balance amount as of Oct. 1, 2021 78.4 4.2 1.2 83.8 Additions 86.0 1.7 0.2 87.8 Derecognition (10.6) (4.0) (1.0) (15.6) Acquisition through business combinations 25.1 — — 25.1 Currency translation differences (0.9) — — (0.9) Balance amount as of Sept. 30, 2022 178.0 1.9 0.4 180.2 Accumulated depreciation Balance as of Oct. 1, 2021 (21.1) (1.9) (0.2) (23.2) Additions* (21.8) (0.5) (0.1) (22.4) Derecognition 2.9 1.8 0.2 5.0 Currency translation differences 0.1 0.0 0.0 0.1 Balance as of Sept. 30, 2022 (39.9) (0.5) (0.1) (40.6) Carrying amount as of Sept. 30, 2022 138.0 1.3 0.2 139.6 *includes amounts of the discontinued operations, please refer to Note 11 The right-of-use assets recognized in accordance with IFRS 16 are as follows as of September 30, 2021: EUR million Land and buildings Technical facilities and machine Other facilities, operating business Total Cost Balance amount as of Oct. 1, 2020 46.2 3.8 0.5 50.5 Additions 38.0 0.5 0.9 39.5 Disposal (6.6) (0.1) (0.2) (6.9) Acquisition through business combinations 0.6 0.0 — 0.6 Currency translation differences 0.1 — — 0.1 Balance amount as of Sept. 30, 2021 78.4 4.2 1.2 83.8 Accumulated depreciation Balance as of Oct. 1, 2020 (13.6) (1.4) (0.3) (15.4) Additions (9.8) (0.6) (0.2) (10.6) Disposal 2.3 0.1 0.2 2.6 Currency translation differences 0.0 — — 0.0 Balance as of Sept. 30, 2021 (21.1) (1.9) (0.2) (23.2) Carrying amount as of Sept. 30, 2021 57.3 2.3 1.0 60.6 |
Summary of Detailed Information About Lease Liabilties | Lease liabilities are presented in the statement of financial position as follows: September 30, EUR million 2022 2021 Current 20.7 11.0 Non-current 123.4 49.9 Total Lease liabilities 144.2 60.9 |
Summary of Maturity Analysis Of Operating Lease Payments | The maturity of the lease liabilities classified as non-current is set out below: September 30, 2022 EUR million One to five years More than five years Total Maturity lease liabilities 85.0 38.5 123.4 September 30, 2021 EUR million One to five years More than five years Total Maturity lease liabilities 32.1 17.8 49.9 |
Summary of Detailed Information About Lease Amounts Recognized In Profit Or Loss | The following table depicts the amounts related to IFRS 16 recognized in profit or loss: September 30, EUR million 2022 2021 2020 Interest on lease liabilities (2.5) (0.3) (0.4) Expense relating to variable lease payment not included in lease liabilities — — — Expenses relating to short term leases (0.1) 0.0 0.0 Expenses relating to leases of low-value assets, excluding short-term leases of low-value assets 0.0 0.0 0.0 |
Summary of Deferred Tax Assets And Liabilities | Deferred tax assets and liabilities as of September 30, 2022 are as follows: September 30, 2022 2021 EUR million Assets Liabilities Assets Liabilities Deferred taxes 95.4 136.3 32.2 72.3 Netting (95.4) (95.4) (32.2) (32.2) Total — 40.9 — 40.1 |
Summary of Changes In Deferred Tax Assets And Liabilities Results From The Effects | The change in deferred tax assets and liabilities results from the effects shown below: September 30, EUR million 2022 2021 Deferred tax liabilities 40.9 40.1 Recognized deferred taxes (net) (40.9) (40.1) Changes compared to the previous year (0.8) (0.5) of which recognized in the consolidated statement of profit and loss 28.6 0.1 of which recognized in other comprehensive income for hedging 0.4 (0.2) of which recognized in other comprehensive income for currency translation 0.5 — of which recognized in the context of business combinations (30.3) (0.4) |
Summary of Allocation of Deferred Taxes From Temporary Differences To The Respective Assets And Liabilties | The allocation of deferred taxes from temporary differences to the respective assets and liabilities as well as on tax losses and interest carryforwards as of September 30, 2022, is as follows: September 30, 2022 EUR million Deferred tax assets Deferred tax liabilities Assets Non-current assets Intangible assets 0.2 90.6 Property, plant and equipment — 0.5 Right-of-use assets (IFRS 16) — 35.5 Other financial assets — 2.5 Current assets Inventories 0.8 — Trade and other receivables 1.2 — Other assets 0.3 0.7 Equity and debt capital Non-current liabilities Financial liabilities 2.2 — Lease liabilities 29.7 Current liabilities Financial liabilities 4.5 0.4 Lease liabilities 5.2 Other provisions 6.9 — Trade payables and other liabilities — 4.7 Other liabilities — 1.4 Total temporary differences 51.0 136.3 Tax loss carryforwards 44.4 — Interest carryforwards — — Total before netting 95.4 136.3 Netting (95.4) (95.4) Total after netting — 40.9 The allocation of deferred taxes from temporary differences to the corresponding assets and liabilities as well as on tax losses and interest carryforwards as of September 30, 2021, is as follows: September 30, 2021 EUR million Deferred tax assets Deferred tax liabilities Assets Non-current assets Intangible assets — 51.4 Property, plant and equipment — 0.2 Right-of-use assets (IFRS 16) — 18.0 Current assets Inventories — 1.1 Trade and other receivables 0.9 — Other assets — 0.3 Equity and debt capital Non-current liabilities Financial liabilities 1.7 — Lease liabilities 14.1 Current liabilities Financial liabilities 0.7 — Lease liabilities 2.9 Other provisions 0.3 0.0 Trade payables and other liabilities 0.5 0.8 Other liabilities 0.2 0.5 Total temporary differences 21.3 72.3 Tax loss carryforwards 8.4 — Interest carryforwards 2.5 — Total before netting 32.2 72.3 Netting (32.2) (32.2) Total after netting — 40.1 |
Summary of Inventories | September 30, EUR million 2022 2021 Raw materials and supplies 0.4 0.4 Merchandise 291.8 173.7 Right of return assets 6.7 7.7 Total 299.0 181.9 |
Summary of Trade receivables | September 30, EUR million 2022 2021 Trade receivables before value adjustment 30.7 30.8 Valuation adjustments (ECL) (5.6) (4.5) Total 25.1 26.3 |
Summary of Other Current Financial Assets | September 30, EUR million 2022 2021 Supplier discounts and bonuses 8.7 9.6 Derivative financial instruments 1.1 0.5 Other 10.3 14.0 Total 20.1 24.0 |
Summary of Other Current Assets | September 30, EUR million 2022 2021 Other tax receivables 25.7 18.8 Prepaid expenses 8.4 2.5 Miscellaneous other current assets 17.7 12.0 Total 51.8 33.4 |
Summary of Cash and cash equivalents | September 30, EUR million 2022 2021 Cash on hand 0.3 0.1 Bank balances 42.6 50.6 Total 43.0 50.7 |
Summary of Provisions | The provisions as of September 30, 2022, are as follows: EUR million Balance of non-current provisions as of Oct. 1, 2021 0.1 Current provisions 4.9 Balance of provisions as of Oct. 1, 2021 5.0 Business Combinations 3.1 Use of provision (0.7) Reversal (3.3) Additions 0.1 Discount effect (0.8) Balance of provisions as of Sept. 30, 2022 3.4 Less current provisions (1.0) Balance of non-current provisions as of Sept. 30, 2022 2.4 Expected cash flow Within 12 months 1.0 Within 1-5 years 0.3 After 5 years 2.1 Total 3.4 Provision mainly exist in particular for litigation risk in the United States due to different legal positions and dilapidation. The provisions as of September 30, 2021, are as follows: EUR million Balance of non-current provisions as of Oct. 1, 2020 0.1 Current provisions 2.9 Balance of provisions as of Oct. 1, 2020 3.0 Use of provision (1.7) Reversal (0.2) Additions 3.9 Balance of provisions as of Sept. 30, 2021 5.0 Less current provisions 4.9 Balance of non-current provisions as of Sept. 30, 2021 0.1 Expected cash flow — Within 12 months 4.9 Within 1-5 years 0.1 After 5 years — Total 5.0 |
Summary of Non-Current Financial Liabilities | September 30, EUR million 2022 2021 Liabilities to financial institutions 103.7 80.4 Lease liabilities 123.4 49.9 Other 90.1 10.1 Total 317.2 140.4 |
Summary of Carrying Amounts of Assets Pledged as Security For Current and Non-current Borrowings | The carrying amounts of assets pledged as security for current and non-current borrowings are: September 30, EUR million 2022 2021 Current Inventories 19.4 17.4 Total current assets pledged as security 19.4 17.4 |
Summary of Other Non-Current Liabilities | September 30, EUR million 2022 2021 Personnel related liabilities 7.8 0.9 Other 0.1 0.1 Total 7.9 1.0 |
Summary of Trade Payables | September 30, EUR million 2022 2021 Trade payables 194.9 102.7 Total 194.9 102.7 |
Summary of Other Current Financial Liabilities | September 30, EUR million 2022 2021 Liabilities to financial institutions 4.2 1.3 Lease liabilities 20.7 11.0 Derivative financial instruments 2.3 — Other 15.2 15.4 Total 42.4 27.7 |
Summary of Other Current Liabilities | September 30, EUR million 2022 2021 Liabilities from other taxes 26.9 17.4 Liabilities for personnel expenses 16.0 12.9 Payables to customers 2.5 3.4 Refund liability 13.3 10.7 Other liabilities 15.6 1.8 Current income tax liabilities 1.2 1.7 Total 75.6 47.9 |
Summary of Contract Liabilities | September 30, EUR million 2022 2021 Contract liabilities 9.3 4.7 Total 9.3 4.7 |
Notes to the Consolidated Sta_6
Notes to the Consolidated Statements of Changes in Equity (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Notes to the Consolidated Statement of Changes in Equity [Abstract] | |
Summary of the Effect of Changes in the Group Ownership Interests | The following table summarizes the effect of changes in the Group’s ownership interests: EUR million September 30, 2021 Carrying amount of non-controlling interest acquired 24.4 Consideration transferred 122.8 Thereof paid in cash 4.7 A decrease in equity attributable to owners of the Group 98.4 |
Notes to the Consolidated Sta_7
Notes to the Consolidated Statements of Cash Flows (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Disclosure Of Cash Flow Statement [Abstract] | |
Summary of cash inflows and outflows from financing activities | The total cash inflows and outflows from financing activities (continued and discontinued operations) can be reconciled with the balance sheet items as follows: EUR million Note September 30, 2022 Cash outflow Cash inflow Other Business Combination Reclass October 1, 2021 Group equity Share capital 7.11 46.5 11.6 5.6 — 11.6 17.6 Share capital- not registered — — — — — (3.6) 3.6 Capital reserve 7.11 1,335.2 (5.9) 391.1 399.6 — (8.0) 558.4 Non-current financial liabilities Liabilities to other 7.14 80.1 — 80.1 — — — Lease liabilities 7.4 123.4 (3.3) — 54.1 22.8 — 49.9 Liabilities to financial institutions 7.14 103.7 (77.6) 25.0 (1.5) 77.5 — 80.4 Other current financial liabilities Lease liabilities 7.4 20.7 (16.2) — 23.7 2.2 — 11.0 Liabilities to financial institutions 7.16 4.2 (1.0) 2.0 2.0 — — 1.3 Other loans — (0.7) — — — — 0.7 Balance 1,713.9 (104.7) 509.8 483.5 102.5 — 723.0 Financial expenses Net finance costs 6.6 (13.1) (5.9) — (7.2) — — — Profit and loss statement (13.1) (5.9) — (7.2) — — — Proceeds from Recapitalization — — 23.6 — — — — Cash flow from financing activities (110.6) 533.4 EUR million Note September 30, 2021 Cash outflow Cash inflow Other Conversion Business combinations October 1, 2020 Group equity Share capital 7.11 17.6 — — — — — 17.6 Share capital- not registered 3.6 — — 2.0 1.7 — — Capital reserve 7.11 558.4 — — 114.3 73.8 — 370.4 Non-controlling interests — (4.6) — (19.7) — — 24.4 Non-current financial liabilities Convertible loan 8 — — — 1.5 (75.4) — 73.9 Lease liabilities 7.4 49.9 (1.0) — 22.8 — 0.5 27.6 Liabilities to financial institutions 7.14 80.4 (30.5) 75.0 1.3 — — 34.6 Other current financial liabilities Financial liabilities to equity holders (including accrued interest) 12 — (1.3) — — — — 1.3 Lease liabilities 7.4 11.0 (9.5) — 12.3 — 0.2 8.0 Liabilities to financial institutions 7.16 1.3 (7.5) — (1.2) — — 10.0 Other loans 0.7 — 0.2 — — — 0.5 Balance 723.0 (54.4) 75.2 133.2 — 0.7 568.3 Financial expenses Net finance costs 6.6 (6.7) (3.6) — (3.2) — — — Profit and loss statement (6.7) (3.6) — (3.2) — — — Cash flow from financing activities (58.0) 75.2 EUR million Note September 30, 2020 Cash outflow Cash inflow Other Conversion Business combinations Oct. 1, 2019 Group equity Share capital 6.11 17.6 — — — — — 17.6 Capital reserve 6.11 370.4 — — 3.1 — — 367.3 Non-controlling interests* 24.4 (0.4) — (1.2) — — 26.0 Non-current Financial liabilities to shareholders (including accrued interest) 11 — (19.7) — — (49.9) — 69.5 Convertible loan 7 49.3 — — (0.6) 49.9 — — Convertible loan 7 24.6 — 24.4 0.2 — — — Lease liabilities 6.4 27.6 — — (3.1) — 0.4 30.3 Liabilities to financial institutions 6.14 34.6 (0.3) 32.0 (7.1) — — 10.0 Other current financial liabilities Financial liabilities to equity holders (including accrued interest) 11 1.3 (5.5) — 1.3 — — 5.5 Lease liabilities 6.4 8.0 (7.8) — 8.8 — 0.1 7.0 Liabilities to 6.16 10.0 (1.0) 2.8 7.2 — — 1.0 Other loans 0.5 (0.4) — — — — 0.9 Balance 568.3 (35.1) 59.2 8.6 — 0.5 535.1 Financial expenses Interest expenses 5.6 (8.6) (4.4) — (4.3) — — — Profit and loss statement (8.6) (4.4) 0.0 (4.3) — 0.0 0.0 Cash flow from financing activities (39.5) 59.2 |
Financial risk management (Tabl
Financial risk management (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Financial Risk Management [Abstract] | |
Summary of financial instruments | The financial instruments as of September 30, 2022, are as follows: EUR million Measurement category in accordance with IFRS 9 Balance sheet carrying amount as of September 30, 2022 Fair value hierarchy Fair value Financial asset Other non-current financial assets 5.1 5.1 of which with related companies and persons AC — 2 — of which from the positive fair values of derivative financial instruments in cash flow hedge accounting Hedge Accounting — 2 — of which from other financial assets AC 5.1 2 5.1 Trade receivables AC 25.1 n/a 25.1 Other current financial assets 20.1 n/a 20.1 of which from the positive fair values of derivative financial instruments in cash flow hedge accounting Hedge Accounting 1.1 2 1.1 of which from financial assets AC 19.0 n/a 19.0 Cash and cash equivalents AC 43.0 n/a 43.0 Financial liabilities Non-current financial liabilities 317.2 193.0 of which to financial institutions AC 103.7 2 101.6 of which other loans AC 0.9 2 0.9 of which from lease liabilities n/a 123.4 n/a n/a of which with related companies and persons AC 80.0 2 81.3 of which put option liabilities FVPL 5.4 2 5.4 of which from the negative fair values of derivative financial instruments in cash flow hedge accounting Hedge Accounting — 2 — of which from other financial liabilities AC — 2 — of which warrants FVPL 3.8 1 3.8 Trade payables AC 195.5 n/a 195.5 EUR million Measurement category in accordance with IFRS 9 Balance sheet carrying amount as of September 30, 2022 Fair value hierarchy Fair value Other current financial liabilities 42.4 42.4 of which to financial institutions AC 4.2 n/a 4.2 of which from lease liabilities n/a 20.7 n/a n/a of which from the negative fair values of derivative financial instruments in cash flow hedge accounting Hedge Accounting 2.3 2 2.3 of which from other financial liabilities AC 15.2 n/a 15.2 The financial instruments as of September 30, 2021, are as follows: EUR million Measurement category in accordance with IFRS 9 Balance sheet carrying amount as of September 30, 2021 Fair value hierarchy Fair value Financial assets Other non-current financial assets 1.4 1.4 of which with related companies and persons AC — 2 — of which from the positive fair values of derivative financial instruments in cash flow hedge accounting Hedge Accounting 0.0 2 0.0 of which from other financial assets AC 1.4 2 1.4 Trade receivables AC 26.3 n/a 26.3 Other current financial assets 24.0 24.0 of which from the positive fair values of derivative financial instruments in cash flow hedge accounting Hedge Accounting 0.5 2 0.5 of which from financial assets AC 23.5 n/a 23.5 Cash and cash equivalents AC 50.7 n/a 50.7 Financial liabilities Non-current financial liabilities 140.4 95.2 of which to financial institutions AC 80.4 2 85.1 of which other loans AC 0.9 2 0.9 of which from lease liabilities n/a 49.9 n/a n/a of which put option liabilities FVPL 9.3 2 9.3 of which from the negative fair values of derivative financial instruments in cash flow hedge accounting Hedge Accounting 0.0 2 0.0 of which from other financial liabilities AC — 2 — Trade payables AC 102.7 n/a 102.7 EUR million Measurement category in accordance with IFRS 9 Balance sheet carrying amount as of September 30, 2021 Fair value hierarchy Fair value Other current financial liabilities 27.7 16.7 of which to financial institutions AC 1.3 n/a 1.3 of which from lease liabilities n/a 11.0 n/a n/a of which from the negative fair values of derivative financial instruments in cash flow hedge accounting Hedge — 2 0 of which from other financial liabilities AC 15.4 n/a 15.4 |
Summary of change in level 3 fair value | The following table shows the changes in Level 3 instruments for the twelve-month period ending September 30, 2021: EUR million Earn-out Total Opening balance as of Oct. 1, 2020 0.6 0.6 Changes in fair value (0.6) (0.6) Utilization / reversal — — Closing balance as of Sept. 30, 2021 — — The cumulative carrying amounts of financial instruments allocated to the measurement categories of IFRS 9 as of September 30, 2022 and September 30, 2021 are as follows: EUR million Carrying amount as of September 30, 2022 Fair value as of September 30, 2022 Financial assets measured at amortized cost (AC) 92.2 92.2 Financial assets at fair value profit or loss (FVPL) — — Financial assets fair value OCI (Hedge Accounting) 1.1 1.1 Total financial assets 93.3 93.3 Financial liabilities measured at amortized cost (AC) 399.4 398.6 Financial liabilities at fair value through profit or loss (FVPL) 9.2 9.2 Financial liabilities at fair value OCI (Hedge Accounting) 2.3 2.3 Total financial liabilities 410.9 410.1 EUR million Carrying amount as of September 30, 2021 Fair value as of September 30, 2021 Financial assets measured at amortized cost (AC) 101.5 101.5 Financial assets at fair value profit or loss (FVPL) — — Financial assets fair value OCI (Hedge Accounting) 0.5 0.5 Total financial assets 101.9 101.9 Financial liabilities measured at amortized cost (AC) 197.9 202.6 Financial liabilities at fair value through profit or loss (FVPL) 9.3 9.3 Financial liabilities at fair value OCI (Hedge Accounting) — — Total financial liabilities 207.2 211.9 |
Summary of net gains and losses from financial instruments | The net gains and losses from financial instruments based on valuation categories according to IFRS 9 are as follows as of September 30, 2022, 2021 and 2020: September 30, EUR million 2022 2021 2020 Financial assets measured at amortized cost (AC) 1.8 1.8 0.7 Financial liabilities measured at amortized cost (AC) (5.7) (5.9) (7.6) Financial assets measured at fair value — — 0.2 Financial liabilities measured at fair value 32.8 — (0.3) Net result 28.9 (4.1) (7.0) |
Summary of default risk and expected credit Losses | The following table contains information on the default risk and expected credit losses for trade receivables: September 30, 2022 EUR million Gross carrying amounts Value adjustment Low risk 20.9 (3.2) Medium risk 9.8 (2.4) Total 30.7 (5.6) In the previous year, the default risk and expected credit losses were as follows: September 30, 2021 EUR million Gross carrying amounts Value adjustment Low risk 23.8 (2.5) Medium risk 7.0 (2.2) Total 30.8 (4.6) |
Summary of gross carrying amount of trade receivables and the valuation adjustments developed | The gross carrying amount of trade receivables and the valuation adjustments developed as follows in the fiscal year ended September 30, 2022 and 2021: September 30, EUR million 2022 2021 Receivables at the beginning of the reporting period 30.8 25.8 Business combinations 1.0 0.1 Additions 26.6 27.5 Payments (26.8) (21.7) Written-off receivables (1.0) (0.9) Exchange rate differences 0.1 0.0 Receivables at the end of the reporting period 30.7 30.8 EUR million September 30, 2022 September 30, 2021 Value adjustment (ECL) at the beginning of the reporting period (4.6) (4.2) Business combinations (0.1) — Additions (1.3) (1.0) Utilization 0.1 0.5 Cancellations 0.2 0.2 Exchange rate differences — — Value adjustment (ECL) at the end of the reporting period (5.6) (4.6) |
Disclosure of maturity profile of financial liabilities explanatory | The tables below analyze the Group’s financial liabilities into relevant maturity groups as of September 30, 2022 and 2021, respectively. The amounts disclosed in the table are the contractual undiscounted cash flows. September 30, 2022 EUR million < 1 year 1-5 years > 5 years Total undiscounted cash flows Carrying amount Financial liabilities to financial institutions 9.9 106.9 — 116.8 107.9 Lease liabilities 23.4 81.4 54.7 159.6 144.2 Other financial liabilities 18.9 93.6 — 112.5 105.3 Trade payables 194.9 0.6 — 195.5 195.5 Inflow from Hedges 29.2 — — 29.2 (2.0) Outflow from Hedges (31.2) — — (31.2) 0.0 Total 245.0 282.6 54.7 582.3 550.8 September 30, 2021 EUR million < 1 year 1-5 years > 5 years Total Carrying amount Financial liabilities to financial institutions 1.3 85.7 — 87.0 81.6 Lease liabilities 11.0 33.2 18.1 62.3 60.9 Other financial liabilities 15.4 10.1 — 25.5 25.5 Trade payables 102.7 — — 102.7 102.7 Inflow from Hedges 12.2 1.2 — 13.5 (0.4) Outflow from Hedges (12.5) (1.3) — (13.8) — Total 130.0 128.9 18.1 277.1 270.3 |
Disclosure of detailed information about borrowings explanatory | For the interest-bearing liabilities the nominal interest rates and the face values are as followed. September 30, 2022 September 30, 2021 EUR million Currency Nominal interest rate Year of maturity Carrying amount Face value Carrying amount Face value Secured bank loan EUR 1.00 % 2026 0.4 0.3 0.5 0.4 Secured bank loan EUR 1.30 % 2025 0.3 0.3 0.4 0.4 Secured bank loan EUR 1.55 % 2025 0.3 0.3 0.4 0.4 Secured bank loan EUR 0.90 % 2025 0.2 0.2 0.2 0.2 Secured bank loan EUR 1.25 % 2024 0.4 0.4 0.6 0.6 Secured bank loan EUR 0.60 % 2024 0.2 0.2 0.2 0.2 Secured bank loan EUR 0.25 % 2026 1.8 1.8 2.0 2.0 Secured bank loan EUR 0.25 % 2026 1.8 1.8 2.0 2.0 Secured bank loan EUR EURIBOR 3M+3.5 points 2024 100.3 100.0 75.2 75.0 Unsecured bank loan USD 2.50 % 2023 2.2 2.2 0.0 0.0 Unsecured loan EUR EURIBOR 12M+5 points 2025 51.2 50.0 0.0 0.0 Unsecured loan EUR EURIBOR 12M+5 points 2025 30.2 30.0 0.0 0.0 |
Disclosure of objectives policies and processes for managing capital explanatory | The following table shows the total equity of SIGNA Sports United Group (as shown in the consolidated statements of financial position, including non-controlling interests) and the equity ratio: September 30, EUR million 2022 2021 2020 Total equity 617.3 373.4 347.1 Total equity and borrowed capital 1,309.5 742.9 682.0 Equity ratio 47.1 % 50.3 % 50.9 % |
Discontinued operations (Tables
Discontinued operations (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Disposal Groups and Discontinued Operations [Abstract] | |
Schedule of Discontinued Operations | Fiscal year ended September EUR million 2022 2021 2020 Results of discontinued operations Revenue 53.0 58.2 58.8 Own work capitalized 0.1 0.4 0.3 Other operating income 0.1 0.7 1.0 Cost of material (41.7) (33.9) (34.7) Personnel expense (9.3) (9.1) (9.0) Other operating expenses (19.5) (20.6) (18.9) Depreciation and amortization (2.3) (1.8) (1.1) Impairment loss (4.8) — — Operating result (24.4) (6.2) (3.5) Finance result (2.0) (2.1) (1.4) Earnings before taxes (EBT) (26.4) (8.3) (5.0) Income tax expense/benefit — — — Loss for the period (26.4) (8.3) (5.0) Loss per share Basic and diluted loss per share (0.1) — — Cash flow from discontinued operations (7.7) (13.2) (4.5) Net cash flow from/ (used in) operating activities (6.6) (4.3) (2.5) Net cash flow from/ (used in) investing activities (0.6) (1.2) (0.9) Net cash flow from/ (used in) financing activities (0.5) (7.7) (1.2) |
Related party transactions (Tab
Related party transactions (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Related party transactions [abstract] | |
Summary of transactions between related parties | During the year, group entities entered into the following transactions with related parties who are not members of the Group: Transaction values Balance outstanding September 30, EUR million 2022 2021 2020 2022 2021 Sale of goods and services OUTFITTER GmbH — — 0.8 — — SportScheck GmbH 0.3 0.4 — 0.3 0.5 SIGNA Sports United X GmbH 0.6 — — 0.4 — Tennis-Point UK Ltd. — — — 0.2 — Purchase of goods and services OUTFITTER GmbH 0.5 — 0.5 3.8 — Karstadt Sports — 2.2 — Galeria Karstadt Kaufhof GmbH 0.3 0.4 5.4 0.1 0.0 SportScheck GmbH 0.5 2.7 0.2 0.0 0.2 SIGNA Retail Selection AG — 0.5 0.4 0.2 0.2 SIGNA Informationstechnologie GmbH 0.0 0.1 — 0.0 — o5 Logistik GmbH 0.1 — 0.2 — — SIGNA Retail GmbH 0.1 0.7 0.4 0.7 — SIGNA Financial Services AG — 1.5 — — 4.0 Financial liabilities and interest SIGNA International Sports Holding GmbH Convertible Loan and related interest — 0.8 2.7 — — SIGNA Holding GmbH Loan and related interest 1.4 — — 81.4 — Financial receivables and interest SIGNA Sports United X GmbH 0.0 — — 1.5 — |
Remuneration of the members o_2
Remuneration of the members of Executive Management and the Board of Directors (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Remuneration of Executive Management and Board of Directors [Abstract] | |
Summary of Remuneration of Management | The total remuneration of management is shown in the following table: September 30, EUR million 2022 2021 2020 Salaries and other short-term benefits 6.3 4.3 4.0 Post-employment benefits — — 0.9 Termination benefits — — 0.2 Share-based payments 8.1 2.7 — Total 14.4 7.0 5.1 Compensation of the Group’s key management personnel includes salaries, other short-term benefits as well as share-based payments. For further information regarding the share-based payments see note 7.12. |
Business combinations (Tables)
Business combinations (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Business Combinations [Abstract] | |
Summary of Business Combination | Details of the consideration transferred on acquisition date: EUR million Cash Consideration 236.0 Equity Consideration 274.8 Total consideration 510.8 As of September 30, 2022, the purchase price allocation has been completed. The following table illustrates the recognized assets and (liabilities) assumed at the date of the acquisition: EUR million Fair value at the time of acquisition Property, plant and equipment 9.5 Right-of-use-assets 24.8 Identifiable intangible assets 202.0 Inventories 78.0 Trade receivables 0.7 Other current financial asset 2.4 Other current assets 11.2 Cash and cash equivalents 45.8 Non-current provisions (3.1) Non-current financial liabilities (98.0) Deferred tax liabilities (28.5) Trade payables (41.2) Other current financial liabilities (2.0) Other current liabilities (69.6) Contract liabilities (1.7) Total identifiable net assets acquired 130.3 Consideration transferred 510.8 Goodwill 380.4 EUR million Fair value at the time of acquisition Property, plant and equipment 0.1 Right-of-use-assets 0.2 Identifiable intangible assets 7.1 Inventories 9.1 Trade receivables 0.1 Other current assets 1.4 Cash and cash equivalents 0.6 Deferred tax liabilities (1.8) Tax liabilities (1.1) Trade payables (3.2) Other current liabilities (2.6) Total identifiable net assets acquired 9.9 Consideration transferred 31.3 Goodwill 21.4 EUR million Fair value at the time of acquisition Property, plant and equipment 0.1 Right-of-use-assets 0.6 Identifiable intangible assets 1.7 Other non-current assets 0.3 Inventories 4.9 Trade receivables 0.1 Other current assets 0.1 Cash and cash equivalents 0.2 Other non-current liabilities (0.5) Tax liabilities (0.7) Trade payables (3.2) Other current liabilities (1.4) Total identifiable net assets acquired 2.2 Consideration transferred 13.2 Goodwill 11.0 |
Disclosures on shareholdings _2
Disclosures on shareholdings in accordance with IFRS 12 (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Disclosure of subsidiaries [abstract] | |
Summary of Subsidiaries Included in Consolidation | As of September 30, 2022, SIGNA Sports United Group comprised the following material companies which were included in the scope of consolidation: Name Principal place of business, Country Sum of the direct and indirect shares as of September 30, 2022 Type of interest 1 Sum of the direct and indirect shares as of September 30, 2021 Type of interest 1 SIGNA Sports NV Berlin, Germany SIGNA Sports United GmbH Berlin, Germany 100.0% FC —% — Olympics I Merger Sub, LLC George Town, Cayman Islands,UK 100.0% FC —% — OUTFITTER Teamsport GmbH Großostheim, Germany 100.0% FC 100.0% FC Teamstolz GmbH Ehingen, Germany 55.0% AE 55.0% AE SIGNA SPORTS CENTRO TÉCNICO SL Barcelona, Spain 100.0% FC 100.0% FC Score Invest SAS Holtzheim, France 80.6% FC 80.6% FC Tennis-Point GmbH Herzebrock-Clarholz, Germany 100.0% FC 100.0% FC MRS Tennis AG Dietikon, Switzerland 100.0% FC 100.0% FC Tennis-Point Handels GmbH Graz, Austria 100.0% FC 100.0% FC TENNIS POINT SPOR MALZEMELERI LIMITED SIRKETI Serik Antalya, Turkey 100.0% FC 100.0% FC Tennis-Point Iberia S.L. Barcelona, Spain 100.0% FC 100.0% FC Tennis-Point d.o.o. Bol, Croatia 100.0% FC 100.0% FC Tennis Point Italia SRL Bruneck, Italy 100.0% FC 100.0% FC Midwest Sports Supply LLC. Cincinnati, USA 60.6% FC 60.6% FC Ballside GmbH Rostock, Germany 100.0% FC 100.0% FC Tennis Express LLC Houston, USA 66.7% FC —% FC Publikat GmbH Großostheim, Germany 100.0% FC 100.0% FC SIGNA Sport Online GmbH Munich, Germany 100.0% FC 100.0% FC Internetstores Holding GmbH Stuttgart, Germany 100.0% FC 100.0% FC Internetstores GmbH Stuttgart, Germany 100.0% FC 100.0% FC Bikester Sweden Retail Stores AB Stockholm, Sweden 100.0% FC 100.0% FC Addnature AB Stockholm, Sweden 100.0% FC 100.0% FC Probikeshop-Dolphin France SAS Saint Etienne, France 100.0% FC 100.0% FC E-Procall Saint Etienne, France 100.0% FC 100.0% FC E-Prolog Chapponay, France —% 0 100.0% FC SIGNA Beteiligung I Verwaltungs UG (haftungsbeschränkt) Munich, Germany 100.0% FC 100.0% FC SIGNA Beteiligung I UG (haftungsbeschränkt) & Co KG Munich, Germany 100.0% FC 100.0% FC Sports Data Services GmbH (formally known as INSIGNA GmbH) Munich, Germany 100.0% FC 100.0% FC SIGNA AppVentures GmbH Munich, Germany 100.0% FC 100.0% FC AEON SIGNA Sports United Co., Ltd. Chiba, Japan 50.0% AE 50.0% AE Sports North America Holding Corp. New York, USA 100.0% FC —% — SSU Midwest Acqusition Corp. New York, USA 100.0% FC —% — Sports Media Services Gmbh Berlin, Germany 100.0% FC —% — Mapil TopCo Limited Portsmouth, United Kingdom 100.0% FC —% — Mapil MidCo 1 Limited Portsmouth, United Kingdom 100.0% FC —% — Mapil MidCo 2 Limited Portsmouth, United Kingdom 100.0% FC —% — Mapil Bidco Limited Portsmouth, United Kingdom 100.0% FC —% — Ensco 503 Limited Portsmouth, United Kingdom 100.0% FC —% — Wiggle Limited Portsmouth, United Kingdom 100.0% FC —% — Peleton Topco Limited Portsmouth, United Kingdom 100.0% FC —% — Peleton Midco 1 Limited Portsmouth, United Kingdom 100.0% FC —% — Chain Reaction Cycles Limited Portsmouth, United Kingdom 100.0% FC —% — Hotlines Europe Limited Edinburgh, United Kingdom 100.0% FC —% — Chain Reaction Cycles Retail Limited Belfast, United Kingdom 100.0% FC —% — Taiwan Chain Reaction Co. Ltd Yuanlin, Taiwan 100.0% FC —% — Wiggle Australia Pty Limited Portsmouth, United Kingdom 100.0% FC —% — WiggleCRC US LLC Portsmouth, United Kingdom 100.0% FC —% — 1 FC: Full consolidation, AE: At-equity |
Segment information (Tables)
Segment information (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Segment Reporting [Abstract] | |
Summary of Information on Reportable Segments | Information on reportable segments Fiscal year ended September 30, 2022 EUR million Tennis Bike & Outdoor Teamsport Segment total Revenue 259.1 763.6 46.8 1,069.5 External revenue 259.0 763.4 40.4 1,062.8 Intersegment revenue 0.0 0.2 6.4 6.6 Segment Adjusted EBITDA (0.3) (28.3) (6.9) (35.5) Segment Assets 233.7 579.8 71.9 885.4 Segment Liabilities 224.5 557.9 144.0 926.5 Fiscal year ended September 30, 2021 EUR million Tennis Bike & Outdoor Teamsport Segment total Revenue 165.4 607.6 47.0 820.0 External revenue 165.4 607.0 41.2 813.7 Intersegment revenue — 0.5 5.8 6.3 Segment Adjusted EBITDA 7.2 41.4 (4.0) 44.6 Segment Assets 156.3 450.6 95.9 702.8 Segment Liabilities 124.4 284.9 128.2 537.5 Fiscal year ended September 30, 2020 EUR million Tennis Bike & Outdoor Teamsport Segment total Revenue 125.9 497.5 25.6 649.1 External revenue 125.5 497.4 21.6 644.4 Intersegment revenue 0.5 0.1 4.0 4.6 Segment Adjusted EBITDA 2.2 24.7 (2.6) 24.3 Segment Assets 122.5 435.7 82.1 640.4 Segment Liabilities 84.6 273.5 96.1 454.2 |
Summary of Reconciliation of the Performance Indicators Presented in Segment Information | The following table reconciles the performance indicators presented in the segment information to the consolidated statements of profit or loss and other comprehensive Income of SIGNA Sports United Group. September 30, EUR million 2022 2021* 2020* Segment Adjusted EBITDA total** (35.5) 44.6 24.3 Unallocated corporate costs (1) (30.9) (15.0) (7.7) Acquisition related charges (2) (2.7) (0.5) (0.4) Reorganization and restructuring costs (3) (140.5) (7.2) (3.2) Consulting fees (4) (41.7) (21.6) (0.6) Share-based compensation (5) (17.1) (2.7) (0.1) Other items not directly related to current operations (6) (2.7) 1.2 (2.5) Other net finance income/ (cost) (7) 19.5 (0.3) — Impairment loss (254.9) (0.6) (0.1) Result from investments accounted for at equity (1.2) (1.3) (0.7) Interest Expense (net) (4.2) (4.3) (7.1) Depreciation and amortization (53.9) (28.5) (24.5) Earnings before taxes (EBT) (565.9) (36.2) (22.6) * The comparative numbers have been re-presented as a result of discontinued operations. Refer to Note 11- Discontinued Operations. ** The definition of Segment adjusted EBITDA was changed beginning October 1, 2021 to include ramp-up costs and consulting expenses related to management hiring which had previously been excluded. The prior period amounts have been adjusted to state the relevant amounts on a comparable basis. The impact on the prior period Segment adjusted EBITDA was less than €1.4 million. (1) Unallocated corporate costs consist of mainly intercompany activities and loans, corporate functions as well as cost allocations. (2) Acquisition related charges consist of transaction costs incurred from acquisitions during the period or subsequent business integration related project costs directly associated with an acquired business. (3) Reorganization and restructuring costs represent fees and costs associated with various internal reorganization and restructuring initiatives across the SSU’s segments, including share listing expenses of €121.9 million and restructuring costs of €18.5 million in the fiscal year ended September 30, 2022. In the fiscal year ended September 30, 2021, reorganization and restructuring costs consisted mainly of severance costs in the amount of €2.8 million and restructuring costs in the amount of €4.0 million. (4) Consulting fees primarily consists of consultancy fees in connection with acquisitions, financing (equity and debt) and strategic projects including expenses incurred in connection with the share listing of €25.7 million, fees related to ERP implementation of €3.9 million and preparation costs in relation to being Sarbanes-Oxley (SOX) compliant of €3.2 million for the fiscal year ended September 30, 2022. In the fiscal year ended September 30, 2021, consulting fees primarily consisted of expenses incurred in connection with the public listing of €17.8 million, fees related to Business Combinations of €1.5 million and expenses for a market study in the amount of €0.8 million. (5) Share-based compensation represents non-cash share-based compensation expenses related to option awards to employees and executives. (6) Other items are excluded from adjusted EBITDA because they are not considered to be representative of the performance of our businesses. |
Summary of Reconciliations of Information on Reportable Segments | Reconciliations of information on reportable segments to the amounts reported in the financial statements September 30, EUR million 2022 2021 2020 I. Revenue Total segment revenue 1,069.5 820.0 649.1 Intersegment elimination (6.6) (6.3) (4.6) Consolidated revenue 1,062.8 813.7 644.4 II. Assets Total segment assets 885.4 702.8 640.4 Unallocated and intersegment elimination 424.1 40.1 41.6 Consolidated assets 1,309.5 742.9 682.0 III. Liabilities Total segment liabilities 926.5 537.5 454.2 Unallocated and intersegment elimination (234.2) (168.0) (119.3) Consolidated liabilities 692.2 369.5 334.9 |
Summary of Geographical Information of Noncurrent Assets | Non-current assets excluding goodwill are based on the location of the company owning such assets. Non-current assets EUR million 2022 2021 Germany 296.0 245.8 Switzerland 0.7 0.2 United Kingdom 223.4 — Austria 1.0 0.6 France 34.9 31.4 USA 16.5 2.2 Rest of the world 20.5 17.0 Total 592.9 297.1 |
Basis of preparation and gene_2
Basis of preparation and general principles (Details) - EUR (€) € / shares in Units, € in Millions | 12 Months Ended | |||||||||||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | Oct. 04, 2027 | Oct. 04, 2026 | Feb. 06, 2023 | Feb. 03, 2023 | Sep. 28, 2022 | Sep. 30, 2019 | ||||
Basis Of Preparation And General Principles [Line Items] | ||||||||||||
Total income/(loss) | € (565.7) | € (46) | [1] | € (25.6) | ||||||||
Profit (loss) from operating activities | (580) | (30.3) | [1] | (14.8) | ||||||||
Total equity | (617.3) | (373.4) | (347.1) | € (370.3) | ||||||||
Current borrowings and current portion of non-current borrowings | 40 | |||||||||||
Minimum quarterly cash requirement | 30 | |||||||||||
Cash and cash equivalents | € 43 | 50.7 | [2] | 95.6 | [2] | 108.1 | [2] | |||||
Par value (in EUR per share) | € 0.12 | |||||||||||
Put right commitments from SIGNA Holding GmbH | ||||||||||||
Basis Of Preparation And General Principles [Line Items] | ||||||||||||
Commitments received | € 130 | |||||||||||
Senior unsecured convertible loan | Subscription agreement with SIGNA Holding GmbH | ||||||||||||
Basis Of Preparation And General Principles [Line Items] | ||||||||||||
Face value | € 100 | |||||||||||
Borrowings conversion rate (in EUR per share) | € 10.3686 | |||||||||||
Borrowings upsize option | 200 | |||||||||||
Senior unsecured convertible loan | Subscription agreement with SIGNA Holding GmbH | Minimum | ||||||||||||
Basis Of Preparation And General Principles [Line Items] | ||||||||||||
Borrowings upsize option | € 1 | |||||||||||
Senior unsecured convertible loan | Subscription agreement with SIGNA Holding GmbH | EURIBOR | ||||||||||||
Basis Of Preparation And General Principles [Line Items] | ||||||||||||
Borrowings, adjustment to interest rate basis | 4% | |||||||||||
Borrowings, adjustment to interest rate basis, in-kind payments | 7% | |||||||||||
Senior Unsecured Convertible Loan - Bearer Bond | Subscription agreement with SIGNA Holding GmbH | ||||||||||||
Basis Of Preparation And General Principles [Line Items] | ||||||||||||
Face value | € 1 | |||||||||||
SIGNA Holdings revolving credit agreement 3 | Amendment agreement with SIGNA Holding | ||||||||||||
Basis Of Preparation And General Principles [Line Items] | ||||||||||||
Borrowings maximum amount | € 50 | |||||||||||
Forecast | ||||||||||||
Basis Of Preparation And General Principles [Line Items] | ||||||||||||
Minimum quarterly cash requirement | € 50 | |||||||||||
Minimum quarterly requirement, EBITDA | 20 | |||||||||||
Forecast | Senior unsecured convertible loan | EURIBOR | ||||||||||||
Basis Of Preparation And General Principles [Line Items] | ||||||||||||
Borrowings, adjustment to interest rate basis | 6% | 5% | ||||||||||
Borrowings, adjustment to interest rate basis, in-kind payments | 9% | 8% | ||||||||||
Forecast | LBBW credit facility | ||||||||||||
Basis Of Preparation And General Principles [Line Items] | ||||||||||||
Liquidity covenant requirement | 30 | |||||||||||
Retained earnings | ||||||||||||
Basis Of Preparation And General Principles [Line Items] | ||||||||||||
Total income/(loss) | (565.7) | (46) | (24.8) | |||||||||
Total equity | € 758.3 | € 206.3 | € 64.6 | € 39.7 | ||||||||
[1]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations.[2]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations. |
DE-SPAC (Details)
DE-SPAC (Details) - EUR (€) € in Millions | 12 Months Ended | |||||
Dec. 14, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | [1] | Sep. 30, 2020 | [1] | |
Reverse Recapitalization [Line Items] | ||||||
Stock received by former shareholders (in shares) | 12,584,315 | |||||
Warrants received by former shareholders (in shares) | 17,433,333 | |||||
Fair value of net assets acquired | € 7.3 | |||||
Cash and cash equivalents acquired | 23.6 | |||||
Current liabilities assumed | 5.7 | |||||
Deferred underwriting commissions assumed | 10.6 | |||||
Share listing expense | 121.9 | € 121.9 | € 0 | € 0 | ||
Net equity proceeds | 402.7 | |||||
Transaction costs | 5.9 | € 5.9 | € 0 | € 0 | ||
Share capital | ||||||
Reverse Recapitalization [Line Items] | ||||||
Increase in equity | 11.6 | |||||
Capital reserve | ||||||
Reverse Recapitalization [Line Items] | ||||||
Increase in equity | € 391.1 | |||||
[1]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations. |
Summary of significant accoun_4
Summary of significant accounting judgements, estimates, and significant accounting policies - Summary of Estimated Useful Lives of Intangible Assets (Detail) | 12 Months Ended |
Sep. 30, 2022 | |
Bottom of range | Software | |
Disclosure of detailed information about intangible assets [line items] | |
Useful life measured as period of time, intangible assets other than goodwill | 3 years |
Bottom of range | Internally developed | |
Disclosure of detailed information about intangible assets [line items] | |
Useful life measured as period of time, intangible assets other than goodwill | 3 years |
Bottom of range | Other intangible assets | |
Disclosure of detailed information about intangible assets [line items] | |
Useful life measured as period of time, intangible assets other than goodwill | 3 years |
Top of range | Software | |
Disclosure of detailed information about intangible assets [line items] | |
Useful life measured as period of time, intangible assets other than goodwill | 8 years |
Top of range | Internally developed | |
Disclosure of detailed information about intangible assets [line items] | |
Useful life measured as period of time, intangible assets other than goodwill | 5 years |
Top of range | Other intangible assets | |
Disclosure of detailed information about intangible assets [line items] | |
Useful life measured as period of time, intangible assets other than goodwill | 5 years |
Summary of significant accoun_5
Summary of significant accounting judgements, estimates, and significant accounting policies - Summary of Estimated Useful Lives of Property, Plant and Equipment (Detail) | 12 Months Ended |
Sep. 30, 2022 | |
Buildings | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life measured as period of time, property, plant and equipment | 40 years |
Bottom of range | Technical facilities and machines | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life measured as period of time, property, plant and equipment | 4 years |
Bottom of range | Other facilities, operating and business equipment | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life measured as period of time, property, plant and equipment | 3 years |
Top of range | Technical facilities and machines | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life measured as period of time, property, plant and equipment | 13 years |
Top of range | Other facilities, operating and business equipment | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life measured as period of time, property, plant and equipment | 10 years |
Summary of significant accoun_6
Summary of significant accounting judgements, estimates, and significant accounting policies - Additional Information (Detail) | 12 Months Ended |
Sep. 30, 2022 segment | |
Accounting Polices [Abstract] | |
Percentage of unrecognized tax benefit to be realised for recognition in the income statement (more than) | 50% |
Number of operating segments | 5 |
Number of reportable segments | 3 |
Notes to the Consolidated sta_8
Notes to the Consolidated statements of Profit and Loss and Other Comprehensive Income - Summary of Revenue (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | ||
Profit or loss [abstract] | ||||
Revenue from the sale of merchandise | € 1,055.6 | € 813.1 | € 643 | |
Revenue from the sale of services | 7.2 | 0.6 | 1.4 | |
Total | € 1,062.8 | € 813.7 | [1] | € 644.4 |
[1]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations. |
Notes to the Consolidated sta_9
Notes to the Consolidated statements of Profit and Loss and Other Comprehensive Income - Summary of Geographical Information on Segment Revenues (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | € 1,062.8 | € 813.7 | [1] | € 644.4 |
Tennis | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 259 | 165.4 | 125.5 | |
Bike & Outdoor | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 763.4 | 607 | 497.4 | |
Teamsport | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 40.4 | 41.2 | 21.6 | |
Germany | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 295.6 | 278.5 | 245.9 | |
Germany | Tennis | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 63.3 | 59.7 | 53.9 | |
Germany | Bike & Outdoor | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 202.8 | 188.5 | 172.4 | |
Germany | Teamsport | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 29.4 | 30.3 | 19.7 | |
Switzerland | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 80.1 | 82.7 | 80.3 | |
Switzerland | Tennis | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 8.5 | 7.6 | 6.2 | |
Switzerland | Bike & Outdoor | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 66.9 | 72.8 | 74.1 | |
Switzerland | Teamsport | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 4.8 | 2.3 | 0 | |
United Kingdom | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 167 | 18.1 | 6.8 | |
United Kingdom | Tennis | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 8.5 | 8.1 | 6.7 | |
United Kingdom | Bike & Outdoor | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 158.5 | 9.9 | 0.1 | |
United Kingdom | Teamsport | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 0 | 0 | 0 | |
Austria | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 34.1 | 34.1 | 29.4 | |
Austria | Tennis | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 12.3 | 11.1 | 11.1 | |
Austria | Bike & Outdoor | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 21.3 | 22 | 17.3 | |
Austria | Teamsport | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 0.5 | 1 | 0.9 | |
France | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 113 | 125.3 | 99 | |
France | Tennis | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 30 | 18.6 | 19.7 | |
France | Bike & Outdoor | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 81.1 | 104.7 | 78.8 | |
France | Teamsport | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 1.8 | 1.9 | 0.5 | |
United States of America | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 102.9 | 16.8 | 0.2 | |
United States of America | Tennis | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 87.9 | 16.8 | 0.2 | |
United States of America | Bike & Outdoor | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 15 | 0 | 0 | |
United States of America | Teamsport | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 0 | 0 | 0 | |
Rest of the world | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 270.2 | 258.2 | 182.9 | |
Rest of the world | Tennis | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 48.6 | 43.5 | 27.7 | |
Rest of the world | Bike & Outdoor | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 217.7 | 208.9 | 154.7 | |
Rest of the world | Teamsport | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | € 3.9 | € 5.7 | € 0.5 | |
[1]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations. |
Notes to the Consolidated st_10
Notes to the Consolidated statements of Profit and Loss and Other Comprehensive Income - Summary of Refund Liabilities (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Profit or loss [abstract] | |||
Refund liabilities arising from right of return | € 13.3 | € 10.7 | € 10.1 |
Notes to the Consolidated st_11
Notes to the Consolidated statements of Profit and Loss and Other Comprehensive Income - Summary of Own Work Capitalized (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | ||
Profit or loss [abstract] | ||||
Own work capitalized | € 5.5 | € 3.4 | [1] | € 3 |
[1]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations. |
Notes to the Consolidated st_12
Notes to the Consolidated statements of Profit and Loss and Other Comprehensive Income - Summary of Other Operating Income (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | ||
Profit or loss [abstract] | ||||
Other operating income | € 5.2 | € 5.4 | [1] | € 0.5 |
[1]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations. |
Notes to the Consolidated st_13
Notes to the Consolidated statements of Profit and Loss and Other Comprehensive Income - Summary of Personnel Expenses (Detail) € in Millions | 12 Months Ended | |||
Sep. 30, 2022 EUR (€) employee | Sep. 30, 2021 EUR (€) employee | Sep. 30, 2020 EUR (€) employee | ||
Short-term employee benefits expense [abstract] | ||||
Wages and salaries | € (114.2) | € (70.1) | € (52.1) | |
Social contribution | (21.8) | (15.1) | (11.7) | |
Other personnel expenses | (27.3) | (3.8) | (2.7) | |
Total | € (163.3) | € (89) | [1] | € (66.5) |
Number and average number of employees [abstract] | ||||
Average number of employees | employee | 3,623 | 2,492 | 1,914 | |
Equity-based compensation expense | € 17.1 | € 2.7 | € 0.1 | |
Employees | ||||
Number and average number of employees [abstract] | ||||
Average number of employees | employee | 3,623 | 2,492 | 1,914 | |
[1]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations. |
Notes to the Consolidated st_14
Notes to the Consolidated statements of Profit and Loss and Other Comprehensive Income - Summary of Other Operating Expenses (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 14, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Profit or loss [abstract] | ||||
Expenses for logistics and packaging | € (121.9) | € (81) | € (61.8) | |
Marketing expenses | (89.2) | (62.7) | (41.7) | |
Expenses for warehousing, rents and similar expenses | (8.2) | (6.3) | (9.6) | |
Charges for payment services | (18.6) | (11.3) | (8.5) | |
Legal and consulting fees | (64.5) | (31.8) | (7.1) | |
IT expense | (19.7) | (14.2) | (9.4) | |
Administrative expenses | (15.3) | (7.3) | (3.3) | |
Temporary workers and other personnel related expenses | (12) | (11.9) | (8.2) | |
ECL allowance | (2.2) | (2.1) | (3.9) | |
Share listing expense (IFRS 2) | € (121.9) | (121.9) | 0 | 0 |
Other | (7.7) | (6) | (3.3) | |
Total | € (481.1) | € (234.5) | € (156.8) |
Notes to the Consolidated st_15
Notes to the Consolidated statements of Profit and Loss and Other Comprehensive Income - Summary of Finance Income and Cost (Detail) - EUR (€) € in Millions | 12 Months Ended | 13 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 30, 2022 | ||
Finance Income | |||||
Interest income | € 1.8 | € 4 | € 0.7 | ||
Other financial income | 34.9 | 0.8 | 0.1 | ||
Total | 36.6 | 4.8 | [1] | 0.9 | |
Finance cost | |||||
Interest expense for financial liabilities carried at amortized cost | (5.7) | (8.1) | (7.7) | ||
Other financial expenses | (15.3) | (1.1) | (0.1) | ||
Interest expense for lease liabilities (IFRS 16) | (0.3) | (0.2) | (0.1) | ||
Total | (21.3) | (9.4) | (7.9) | ||
Net finance income (costs) | 15.3 | € (4.6) | € (7.1) | ||
Revaluation of warrants | 16.4 | € (15.3) | |||
Revaluation of put option | 16.4 | ||||
Foreign exchange gain (loss) | € 14.9 | ||||
[1]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations. |
Notes to the Consolidated st_16
Notes to the Consolidated statements of Profit and Loss and Other Comprehensive Income - Shares Listing Expense and Change in Fair Value of Warrant Liabilities (Details) - EUR (€) € / shares in Units, € in Millions | 12 Months Ended | |||
Dec. 14, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Profit or loss [abstract] | ||||
Shares to be issued by TopCo to Yucaipa (in shares) | 12,584,315 | |||
Yucaipa's closing price per share (in EUR per share) | € 8.8 | |||
Fair value of stock converted | € 110.1 | |||
Yucaipa's net assets | 7.3 | |||
Fair value of the deemed issued Warrants | 19 | |||
Excess of fair value of shares over Yucaipa's net assets acquired including Warrants | € 121.9 | € 121.9 | € 0 | € 0 |
Notes to the Consolidated st_17
Notes to the Consolidated statements of Profit and Loss and Other Comprehensive Income - Summary of Income Taxes (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | ||
Major components of tax expense (income) [abstract] | ||||
Current income tax | € (2) | € (1.7) | € (0.5) | |
Deferred income tax | 28.6 | 0.1 | 2.4 | |
Total | € 26.6 | € (1.6) | [1] | € 1.9 |
[1]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations. |
Notes to the Consolidated st_18
Notes to the Consolidated statements of Profit and Loss and Other Comprehensive Income - Summary of Current Income Tax Expenses and Income (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | ||
Profit or loss [abstract] | ||||
Earnings before taxes | € (565.9) | € (36.2) | € (22.6) | |
Expected income tax rate (of the parent company) | 30.20% | 30.20% | 33% | |
Income tax benefits based on the expected income tax rate | € 170.8 | € 10.9 | € 7.4 | |
Differences between the company’s domestic and foreign tax rates | (5.3) | 0.3 | (0.7) | |
Non-deductible operating expenses | (145.8) | (0.5) | (0.4) | |
Effects of prior year taxes | (1.6) | 0 | 0.1 | |
Non-taxable income | 132.4 | 0 | 0 | |
Non-recognition of deferred tax assets from temporary differences and tax loss carryforwards | 13.9 | 12.1 | 4 | |
Non-deductible share listing expenses | 36.8 | 0 | 0 | |
Non-deductible goodwill impairment losses | (73.5) | 0 | 0 | |
Other | 0.3 | (0.2) | (0.5) | |
Total | € 26.6 | € (1.6) | [1] | € 1.9 |
Effective tax rate | (4.70%) | 4.40% | (8.20%) | |
[1]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations. |
Notes to the Consolidated st_19
Notes to the Consolidated statements of Profit and Loss and Other Comprehensive Income - Summary of Earnings per Share ("EPS") (Detail) - EUR (€) € / shares in Units, € in Millions, shares in Millions | 12 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | ||
Earnings per share [line items] | ||||
Earnings for the purposes of basic earnings per share being net profit attributable equity holders of the parent entity from continuing operations | € (539.3) | € (37.7) | € (19.8) | |
Weighted average number of ordinary shares for the purposes of basic earnings per share (in shares) | 316.5 | 202.5 | 202.5 | |
Basic loss from continuing operations (in EUR per share) | € (1.7) | € (0.2) | [1] | € (0.1) |
Diluted loss from continuing operations (in EUR per share) | € (1.7) | € (0.2) | [1] | € (0.1) |
Number of shares issued (in shares) | 316.5 | 202.5 | 202.5 | |
Issued ordinary shares at October 1 | ||||
Earnings per share [line items] | ||||
Number of shares issued (in shares) | 202.5 | 202.5 | 17.3 | |
Effect of shares issued in March 2019 | ||||
Earnings per share [line items] | ||||
Number of shares issued (in shares) | 0 | 0 | 0.3 | |
Effect of reorganization | ||||
Earnings per share [line items] | ||||
Number of shares issued (in shares) | 45.4 | 0 | 184.9 | |
Effect of shares issued in December 2021 | ||||
Earnings per share [line items] | ||||
Number of shares issued (in shares) | 67.1 | 0 | 0 | |
Effect of shares issued in February 2022 | ||||
Earnings per share [line items] | ||||
Number of shares issued (in shares) | 0 | 0 | 0 | |
Effect of shares issued in March 2022 | ||||
Earnings per share [line items] | ||||
Number of shares issued (in shares) | 1.4 | 0 | 0 | |
Effect of shares issued in May 2022 | ||||
Earnings per share [line items] | ||||
Number of shares issued (in shares) | 0.1 | 0 | 0 | |
Effect of shares issued in September 2022 | ||||
Earnings per share [line items] | ||||
Number of shares issued (in shares) | 0 | 0 | 0 | |
[1]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations. |
Notes to the Consolidated st_20
Notes to the Consolidated statements of Profit and Loss and Other Comprehensive Income - Summary of Antidilutive Securities Excluded from Computation of Earnings Per Share (Detail) - shares shares in Millions | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Earn-out shares | |||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share amount (in shares) | 51 | 0 | 0 |
Employee options | |||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share amount (in shares) | 0.6 | 1.3 | 0 |
Employee RSUs | |||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share amount (in shares) | 0.8 | 0 | 0 |
Board LTI RSUs | |||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share amount (in shares) | 0.3 | 0 | 0 |
Convertible loan | |||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share amount (in shares) | 0 | 1.6 | 1.6 |
Notes to the Consolidated st_21
Notes to the Consolidated statements of Profit and Loss and Other Comprehensive Income - Additional Information (Detail) € / shares in Units, € in Millions | 12 Months Ended | 13 Months Ended | ||||
Dec. 14, 2021 EUR (€) € / shares shares | Sep. 30, 2022 EUR (€) € / shares shares | Sep. 30, 2021 EUR (€) shares | Sep. 30, 2020 EUR (€) shares | Dec. 30, 2022 EUR (€) | Dec. 14, 2021 $ / shares | |
Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||||
Equity-based compensation expense | € 17.1 | € 2.7 | € 0.1 | |||
Proceeds from the recapitalization | € 121.9 | 121.9 | € 0 | € 0 | ||
Revaluation of warrants | 16.4 | € (15.3) | ||||
Revaluation of put option | 16.4 | |||||
Foreign exchange gain (loss) | € 14.9 | |||||
Fair value of shares deemed issued | € 110.1 | |||||
Exchange ratio (in EUR per share) | 8.75 | |||||
Fair value of net assets acquired | € 7.3 | |||||
Fair value of warrants received by former shareholders | € 19 | |||||
Warrants received by former shareholders (in shares) | shares | 17,433,333 | |||||
Fair value of warrant, price (in EUR and USD per share) | (per share) | € 1.09 | € 0.22 | $ 1.24 | |||
Applicable tax rate | 15.83% | 1,583% | 1,583% | |||
Trade tax rate | 14.35% | 17.15% | 17.15% | |||
Earn-out shares | ||||||
Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||||
Antidilutive securities excluded from computation of earnings per share amount (in shares) | shares | 51,000,000 | 0 | 0 | |||
Employee options | ||||||
Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||||
Antidilutive securities excluded from computation of earnings per share amount (in shares) | shares | 600,000 | 1,300,000 | 0 | |||
Aggregate continuing and discontinued operations | ||||||
Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||||
Equity-based compensation expense | € 17.1 |
Notes to the Consolidated St_22
Notes to the Consolidated Statements of Financial Position - Summary of Intangible assets (Detail) - EUR (€) € in Millions | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | € 326.8 | |
Ending balance | 677.3 | € 326.8 |
Goodwill | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 129.5 | |
Ending balance | 277.6 | 129.5 |
Software | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 7.9 | |
Ending balance | 18.5 | 7.9 |
Domains | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 157.8 | |
Ending balance | 154.2 | 157.8 |
Brands | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 5.6 | |
Ending balance | 124.1 | 5.6 |
Customer relationships | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 2.7 | |
Ending balance | 53 | 2.7 |
Internally developed software | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 10.3 | |
Ending balance | 7.9 | 10.3 |
Other intangible assets | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 13.1 | |
Ending balance | 42 | 13.1 |
Cost | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 375.5 | 347.9 |
Business combinations | 610.9 | 12.8 |
Additions | 34.4 | 14.3 |
Transfers | 0 | 0 |
Disposals | (1.4) | (0.1) |
Currency translation difference | (12.1) | 0.6 |
Ending balance | 1,007.2 | 375.5 |
Cost | Goodwill | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 129.5 | 118.4 |
Business combinations | 401.8 | 11.1 |
Additions | 0 | 0 |
Transfers | 0 | 0 |
Disposals | 0 | 0 |
Currency translation difference | (5.8) | 0 |
Ending balance | 525.4 | 129.5 |
Cost | Software | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 27.7 | 21.8 |
Business combinations | 12.5 | 0 |
Additions | 5.1 | 3.2 |
Transfers | 0.5 | 2.7 |
Disposals | (0.3) | (0.1) |
Currency translation difference | (0.4) | 0 |
Ending balance | 45.1 | 27.7 |
Cost | Domains | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 159.2 | 158.5 |
Business combinations | 0 | 0 |
Additions | 0.1 | 0.1 |
Transfers | 0 | 0.1 |
Disposals | 0 | 0 |
Currency translation difference | (1) | 0.5 |
Ending balance | 158.4 | 159.2 |
Cost | Brands | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 6.2 | 5.6 |
Business combinations | 124.8 | 0.5 |
Additions | 0.1 | 0 |
Transfers | 0 | 0 |
Disposals | 0 | 0 |
Currency translation difference | (3.4) | 0 |
Ending balance | 127.8 | 6.2 |
Cost | Customer relationships | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 15.3 | 13.9 |
Business combinations | 57.6 | 1.3 |
Additions | 0 | 0 |
Transfers | 0 | 0 |
Disposals | 0 | 0 |
Currency translation difference | (1.1) | 0 |
Ending balance | 71.8 | 15.3 |
Cost | Internally developed software | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 20.7 | 15.1 |
Business combinations | 0 | 0 |
Additions | 1 | 1.8 |
Transfers | 1.9 | 3.9 |
Disposals | (0.1) | 0 |
Currency translation difference | 0 | 0 |
Ending balance | 23.5 | 20.7 |
Cost | Other intangible assets | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 16.9 | 14.6 |
Business combinations | 14.2 | 0 |
Additions | 28 | 9.1 |
Transfers | (2.5) | (6.7) |
Disposals | (0.9) | 0 |
Currency translation difference | (0.5) | 0 |
Ending balance | 55.2 | 16.9 |
Accumulated amortization | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (48.6) | (34.2) |
Additions | (25.9) | (14.2) |
Impairment losses | (256.1) | (0.2) |
Transfers | 0 | 0 |
Disposals | 0.2 | 0.1 |
Currency translation difference | 0.5 | 0 |
Ending balance | (329.9) | (48.6) |
Accumulated amortization | Goodwill | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 0 | 0 |
Additions | 0 | 0 |
Impairment losses | (247.9) | 0 |
Transfers | 0 | 0 |
Disposals | 0 | 0 |
Currency translation difference | 0 | 0 |
Ending balance | (247.9) | 0 |
Accumulated amortization | Software | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (19.8) | (15) |
Additions | (7.2) | (4.9) |
Impairment losses | 0 | 0 |
Transfers | 0 | 0 |
Disposals | 0.3 | 0.1 |
Currency translation difference | 0.1 | 0 |
Ending balance | (26.6) | (19.8) |
Accumulated amortization | Domains | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (1.4) | (1) |
Additions | (0.2) | (0.2) |
Impairment losses | (2.6) | (0.2) |
Transfers | 0 | 0 |
Disposals | 0 | 0 |
Currency translation difference | 0 | 0 |
Ending balance | (4.2) | (1.4) |
Accumulated amortization | Brands | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (0.6) | (0.5) |
Additions | (3.1) | (0.1) |
Impairment losses | 0 | 0 |
Transfers | 0 | 0 |
Disposals | 0 | 0 |
Currency translation difference | 0 | 0 |
Ending balance | (3.6) | (0.6) |
Accumulated amortization | Customer relationships | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (12.5) | (9.5) |
Additions | (6.3) | (3) |
Impairment losses | 0 | 0 |
Transfers | 0 | 0 |
Disposals | 0 | 0 |
Currency translation difference | 0.1 | 0 |
Ending balance | (18.8) | (12.5) |
Accumulated amortization | Internally developed software | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (10.4) | (6.4) |
Additions | (5.2) | (4.1) |
Impairment losses | 0 | 0 |
Transfers | 0 | 0 |
Disposals | 0.1 | 0 |
Currency translation difference | 0 | 0 |
Ending balance | (15.6) | (10.4) |
Accumulated amortization | Other intangible assets | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (3.8) | (1.9) |
Additions | (3.9) | (1.9) |
Impairment losses | (5.6) | 0 |
Transfers | 0 | 0 |
Disposals | (0.2) | 0 |
Currency translation difference | 0.3 | 0 |
Ending balance | € (13.2) | € (3.8) |
Notes to the Consolidated St_23
Notes to the Consolidated Statements of Financial Position - Additional Information (Detail) € / shares in Units, € in Thousands | 1 Months Ended | 12 Months Ended | |||||||||||||||||
Dec. 12, 2022 | Jul. 25, 2022 EUR (€) borrowing | Dec. 14, 2021 EUR (€) shares | Mar. 31, 2021 shares $ / shares | Sep. 30, 2022 EUR (€) shares € / shares | May 31, 2022 shares | Mar. 31, 2022 shares | Feb. 28, 2022 shares | Sep. 30, 2022 EUR (€) shares € / shares | Sep. 30, 2021 EUR (€) € / shares shares | Sep. 30, 2020 EUR (€) | Jun. 09, 2022 EUR (€) | May 30, 2022 € / shares | May 03, 2022 EUR (€) | Apr. 04, 2022 € / shares | Jan. 01, 2022 EUR (€) | Jun. 11, 2021 EUR (€) | May 05, 2021 EUR (€) | Sep. 30, 2019 EUR (€) | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Intangible assets with indefinite useful life | € 250,100 | € 250,100 | € 163,100 | ||||||||||||||||
Potential future cash outflows related to lease liability | 115,400 | 115,400 | 28,000 | ||||||||||||||||
Cash outflow for leases | 21,700 | 11,100 | € 8,100 | ||||||||||||||||
Lease rental expense | 8,200 | 6,300 | 9,600 | ||||||||||||||||
Tax loss carryforwards | 235,800 | 235,800 | 100,900 | ||||||||||||||||
Unrecognized deferred tax assets | 3,400 | 3,400 | 9,400 | ||||||||||||||||
Inventories pledged as security for liabilities | 19,400 | € 19,400 | 17,400 | ||||||||||||||||
Trade and other current receivables, Settlement period | 30 days | ||||||||||||||||||
Restricted cash and cash equivalents | 9,500 | € 9,500 | 12,000 | ||||||||||||||||
Creditors with debit balances, current | € 3,100 | € 3,100 | 3,900 | ||||||||||||||||
Par value (in EUR per share) | € / shares | € 0.12 | € 0.12 | |||||||||||||||||
Issued capital | € 46,500 | € 46,500 | 17,600 | 17,600 | € 17,600 | ||||||||||||||
Share price (in eur per share) | € / shares | € 5.79 | € 6.90 | |||||||||||||||||
Equity-based compensation expense | 17,100 | 2,700 | 100 | ||||||||||||||||
Personnel related liabilities | 7,800 | € 7,800 | € 900 | ||||||||||||||||
Number of ceiling time for payment to be made | 120 days | ||||||||||||||||||
Other liabilities | € 9,900 | € 9,900 | |||||||||||||||||
Interest rate on the borrowings | 1.80% | 1.80% | 1.10% | ||||||||||||||||
Revenue | € 2,000 | ||||||||||||||||||
Trading carryforwards | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Tax loss carryforwards | € 195,600 | 195,600 | € 88,800 | ||||||||||||||||
Interest carryforwards | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Tax loss carryforwards | 15,100 | 15,100 | € 0 | ||||||||||||||||
IPO RSU Awards | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Equity-based compensation expense | 5,200 | ||||||||||||||||||
IPO RSU Awards | Potential ordinary share transactions | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Vesting period | 2 years | ||||||||||||||||||
IPO Bonus Agreement | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Personnel related liabilities | 7,100 | 7,100 | |||||||||||||||||
Liabilities from share-based payment transactions | 3,800 | 3,800 | |||||||||||||||||
WCRC Exit Bonus | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Personnel related liabilities | € 2,700 | ||||||||||||||||||
Liabilities from share-based payment transactions | 2,100 | 2,100 | |||||||||||||||||
Bonus payable in shares | 25% | ||||||||||||||||||
WCRC Retention Bonus | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Liabilities from share-based payment transactions | 1,200 | € 1,200 | € 1,200 | ||||||||||||||||
Vesting percentage | 50% | ||||||||||||||||||
Restricted Share Units (RSU) | Initial grant | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Vesting percentage | 25% | ||||||||||||||||||
Director, Wolfram Keil | Restricted Share Units (RSU) | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Vesting period | 4 years | ||||||||||||||||||
Director, Wolfram Keil | Restricted Share Units (RSU) | Initial grant | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Number of other equity instruments granted in share-based payment arrangement (in shares) | shares | 30,672 | ||||||||||||||||||
Director, Wolfram Keil | Restricted Share Units (RSU) | Annual grant | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Number of other equity instruments granted in share-based payment arrangement (in shares) | shares | 12,780 | ||||||||||||||||||
Director, Richard d'Abo | Restricted Share Units (RSU) | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Vesting period | 4 years | ||||||||||||||||||
Director, Richard d'Abo | Restricted Share Units (RSU) | Initial grant | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Number of other equity instruments granted in share-based payment arrangement (in shares) | shares | 30,672 | ||||||||||||||||||
Director, Richard d'Abo | Restricted Share Units (RSU) | Annual grant | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Number of other equity instruments granted in share-based payment arrangement (in shares) | shares | 12,780 | ||||||||||||||||||
Director, Dieter Berninghaus | Restricted Share Units (RSU) | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Vesting period | 4 years | ||||||||||||||||||
Director, Dieter Berninghaus | Restricted Share Units (RSU) | Initial grant | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Number of other equity instruments granted in share-based payment arrangement (in shares) | shares | 30,672 | ||||||||||||||||||
Director, Dieter Berninghaus | Restricted Share Units (RSU) | Annual grant | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Number of other equity instruments granted in share-based payment arrangement (in shares) | shares | 12,780 | ||||||||||||||||||
Director, Martin Wittig | Restricted Share Units (RSU) | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Vesting period | 4 years | ||||||||||||||||||
Director, Martin Wittig | Restricted Share Units (RSU) | Initial grant | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Number of other equity instruments granted in share-based payment arrangement (in shares) | shares | 30,672 | ||||||||||||||||||
Director, Martin Wittig | Restricted Share Units (RSU) | Annual grant | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Number of other equity instruments granted in share-based payment arrangement (in shares) | shares | 12,780 | ||||||||||||||||||
Director, Christoph Keese | Restricted Share Units (RSU) | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Vesting period | 4 years | ||||||||||||||||||
Director, Christoph Keese | Restricted Share Units (RSU) | Initial grant | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Number of other equity instruments granted in share-based payment arrangement (in shares) | shares | 30,672 | ||||||||||||||||||
Director, Christoph Keese | Restricted Share Units (RSU) | Annual grant | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Number of other equity instruments granted in share-based payment arrangement (in shares) | shares | 12,780 | ||||||||||||||||||
Director, Thomas Rudolph | Restricted Share Units (RSU) | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Vesting period | 4 years | ||||||||||||||||||
Director, Thomas Rudolph | Restricted Share Units (RSU) | Initial grant | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Number of other equity instruments granted in share-based payment arrangement (in shares) | shares | 30,672 | ||||||||||||||||||
Director, Thomas Rudolph | Restricted Share Units (RSU) | Annual grant | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Number of other equity instruments granted in share-based payment arrangement (in shares) | shares | 12,780 | ||||||||||||||||||
Syndicated financing revolving facility | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Borrowings maximum amount | € 100,000 | ||||||||||||||||||
Borrowings outstanding | 100,000 | € 100,000 | |||||||||||||||||
SIGNA Holdings revolving credit agreements | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Number of borrowings entered | borrowing | 2 | ||||||||||||||||||
Borrowings outstanding | € 80,000 | € 80,000 | |||||||||||||||||
SIGNA Holdings revolving credit agreement 1 | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Borrowings maximum amount | € 50,000 | ||||||||||||||||||
SIGNA Holdings revolving credit agreement 2 | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Borrowings maximum amount | € 50,000 | ||||||||||||||||||
Lines Of Credit | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Interest rate on the borrowings | 3.40% | 3.40% | 2.40% | ||||||||||||||||
Share capital | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Increase in equity | € 11,600 | ||||||||||||||||||
Capital reserve | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Increase in equity | € 391,100 | ||||||||||||||||||
Ordinary shares | SISH [Member] | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Reverse recapitalization, contingent consideration (in shares) | shares | 51,000,000 | ||||||||||||||||||
Ordinary shares | SSU N.V | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Par value (in EUR per share) | € / shares | € 0.12 | € 0.12 | |||||||||||||||||
Number of shares outstanding (in shares) | shares | 333,180,171 | 336,577,387 | 336,577,387 | ||||||||||||||||
Issued capital | € 39,982 | ||||||||||||||||||
Increase in number of shares outstanding (in shares) | shares | 646,600 | 229,413 | 2,492,833 | 28,370 | |||||||||||||||
Ordinary shares | SSU GmbH | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Par value (in EUR per share) | € / shares | € 1 | ||||||||||||||||||
Number of shares outstanding (in shares) | shares | 202,469,867 | ||||||||||||||||||
Ordinary shares | SSU GmbH | Previously stated | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Number of shares outstanding (in shares) | shares | 17,629,934 | ||||||||||||||||||
Ordinary shares | CEO | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Strike price of number of instruments granted in share based payment arrangement per option (in EUR per share) | $ / shares | $ 0.12 | ||||||||||||||||||
Number of share options exercised (in shares) | shares | 646,600 | ||||||||||||||||||
Number of share options exercisable (in shares) | shares | 646,600 | 646,600 | |||||||||||||||||
Expense from share-based payment transactions with parties other than employees | € 6,200 | € 2,700 | |||||||||||||||||
Number of share options granted in share-based payment arrangement (in shares) | shares | 1,293,200 | ||||||||||||||||||
Ordinary shares | Board Of Directors Members | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Expense from share-based payment transactions with parties other than employees | 600 | ||||||||||||||||||
Ordinary shares | Share capital | SSU N.V | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Increase in equity | 11,600 | ||||||||||||||||||
Ordinary shares | Capital reserve | SSU N.V | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Increase in equity | 391,100 | ||||||||||||||||||
Cost of material | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Cost of inventories recognized as expense during period | 700,300 | 500,200 | 414,900 | ||||||||||||||||
Inventory write down | € 20,000 | 2,700 | € 4,900 | ||||||||||||||||
All Other Domains And Brand Names | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Intangible assets with indefinite useful life percentage of total carrying value | 10% | 10% | |||||||||||||||||
Range Three | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Intangible assets with indefinite useful life | € 3,800 | € 3,800 | € 3,800 | ||||||||||||||||
CGU Group Internetstores | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Number of brand names and domains | 24 | 24 | 24 | ||||||||||||||||
CGU Group Internetstores | Fahrrad.de | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Intangible assets with indefinite useful life | € 33,100 | € 33,100 | |||||||||||||||||
CGU Group Internetstores | Bikester | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Intangible assets with indefinite useful life | 25,800 | 25,800 | |||||||||||||||||
CGU Group Internetstores | Bottom of range | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Intangible assets with indefinite useful life | 100 | 100 | € 200 | ||||||||||||||||
CGU Group Internetstores | Top of range | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Intangible assets with indefinite useful life | € 33,100 | € 33,100 | € 33,100 | ||||||||||||||||
Tennis | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Number of brand names and domains | 21 | 21 | 21 | ||||||||||||||||
Tennis | Bottom of range | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Intangible assets with indefinite useful life | € 100 | € 100 | € 100 | ||||||||||||||||
Tennis | Top of range | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Intangible assets with indefinite useful life | 8,300 | 8,300 | 8,300 | ||||||||||||||||
Publikat And Outfitter Teamsport And Ballside | Range One | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Intangible assets with indefinite useful life | 100 | ||||||||||||||||||
Publikat And Outfitter Teamsport And Ballside | Range Two | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Intangible assets with indefinite useful life | € 100 | € 100 | € 500 | ||||||||||||||||
CGU Wiggle | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Number of brand names and domains | 2 | 2 | 2 | ||||||||||||||||
CGU Wiggle | Bottom of range | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Intangible assets with indefinite useful life | € 42,400 | € 42,400 | € 0 | ||||||||||||||||
CGU Wiggle | Top of range | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Intangible assets with indefinite useful life | € 49,500 | € 49,500 | € 0 | ||||||||||||||||
Goodwill | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Discount rate used in current measurement of fair value less costs of disposal | 3% | 3% | 3% | ||||||||||||||||
Period used for calculation of present value of cash flows | 6 years | 5 years | |||||||||||||||||
Intangible assets other than goodwill | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Period used for calculation of present value of cash flows | 6 years | ||||||||||||||||||
Intangible assets other than goodwill | Discount rate, measurement input | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Significant unobservable input, assets | 0.03 | 0.03 | 0.03 | ||||||||||||||||
Intangible assets with indefinite useful lives | Bigtree De Bigtree Fr And Bigtree NL | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Impairment of intangible assets with indefinite useful lives | € 200 | ||||||||||||||||||
Domains | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Impairment of intangible assets with indefinite useful lives | € 1,300 | ||||||||||||||||||
CGU Group Publikat | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Goodwill | 4,100 | ||||||||||||||||||
Impairment losses | 4,800 | ||||||||||||||||||
CGU Group Publikat | Domains | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Impairment losses | 700 | ||||||||||||||||||
Wiggle Group | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Goodwill | 380,400 | ||||||||||||||||||
Impairment losses on goodwill | € 243,700 | ||||||||||||||||||
Wiggle Group | Goodwill | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Period used for calculation of present value of cash flows | 5 years | ||||||||||||||||||
Wiggle Group | CGU Group Internetstores | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Goodwill | 61,200 | ||||||||||||||||||
Tennis Express | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Goodwill | € 21,400 | ||||||||||||||||||
Tennis Express | CGU Group Tennis US | |||||||||||||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||||||||||||
Goodwill | € 7,200 |
Notes to the Consolidated St_24
Notes to the Consolidated Statements of Financial Position - Summary of Goodwill has been Allocated to Groups of CGU (Detail) - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 |
CGU Group Internetstores | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Goodwill (September 30, 2022) | € 150.1 | € 88.9 |
CGU Group Publikat | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Goodwill (September 30, 2022) | 0 | 4.1 |
CGU Group Tennis US | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Goodwill (September 30, 2022) | 32.1 | 0 |
CGU Group Tennis | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Goodwill (September 30, 2022) | 29.6 | 35.4 |
CGU Wiggle | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Goodwill (September 30, 2022) | 64.8 | 0 |
CGU Group OUTFITTER Teamsport & Ballside | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Goodwill (September 30, 2022) | € 1 | € 1 |
Notes to the Consolidated St_25
Notes to the Consolidated Statements of Financial Position - Summary of Key Assumptions Used in the Impairment Test for CGU Groups (Detail) - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 |
Wiggle Group | CGU Group Internetstores | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
WACC (after taxes) | 9.68% | |
Tax rate | 25% | |
6-year CAGR (Compound Annual Growth Rate) | 16.10% | |
Growth rate terminal value | 1% | |
Terminal value EBITDA margin | 7.47% | |
Carrying amount in EUR million | € 533.2 | |
Goodwill | CGU Group Internetstores | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
WACC (after taxes) | 10.21% | 8.86% |
Tax rate | 30.53% | 26.50% |
6-year CAGR (Compound Annual Growth Rate) | 20.06% | 25.63% |
Growth rate terminal value | 1% | 0.50% |
Terminal value EBITDA margin | 11.19% | 13.49% |
Carrying amount in EUR million | € 441 | € 293.2 |
Goodwill | CGU Group Publikat | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
WACC (after taxes) | 9.17% | |
Tax rate | 28.08% | |
6-year CAGR (Compound Annual Growth Rate) | 15.87% | |
Growth rate terminal value | 0.50% | |
Terminal value EBITDA margin | 9.44% | |
Carrying amount in EUR million | € 44.2 | |
Goodwill | CGU Group Tennis US | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
WACC (after taxes) | 9.62% | |
Tax rate | 27% | |
6-year CAGR (Compound Annual Growth Rate) | 12.70% | |
Growth rate terminal value | 1% | |
Terminal value EBITDA margin | 10.86% | |
Carrying amount in EUR million | € 40.8 | |
Goodwill | CGU Group Tennis | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
WACC (after taxes) | 9.53% | 9.43% |
Tax rate | 30.21% | 28.98% |
6-year CAGR (Compound Annual Growth Rate) | 17.61% | 21.09% |
Growth rate terminal value | 1% | 0.50% |
Terminal value EBITDA margin | 10.34% | 11.73% |
Carrying amount in EUR million | € 85.1 | € 105.7 |
Goodwill | CGU Group OUTFITTER Teamsport & Ballside | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
WACC (after taxes) | 9.85% | 9.05% |
Tax rate | 28.08% | 31.93% |
6-year CAGR (Compound Annual Growth Rate) | 13.06% | 19.56% |
Growth rate terminal value | 1% | 0.50% |
Terminal value EBITDA margin | 8.75% | 9.44% |
Carrying amount in EUR million | € 22.2 | € 20.8 |
Intangible assets with indefinite useful lives | CGU Group Internetstores | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
6-year CAGR (Compound Annual Growth Rate) | 20.06% | 25.63% |
Carrying amount in EUR million | € 136.2 | € 136.4 |
Intangible assets with indefinite useful lives | CGU Group Publikat | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
6-year CAGR (Compound Annual Growth Rate) | 15.87% | |
Carrying amount in EUR million | € 0.7 | |
Intangible assets with indefinite useful lives | CGU Group Tennis | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
6-year CAGR (Compound Annual Growth Rate) | 17.61% | 20.63% |
Carrying amount in EUR million | € 15.3 | € 15.3 |
Intangible assets with indefinite useful lives | CGU Group OUTFITTER Teamsport & Ballside | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
WACC (after taxes) | 9.82% | 9.04% |
6-year CAGR (Compound Annual Growth Rate) | 13.06% | 19.56% |
Carrying amount in EUR million | € 3.8 | € 3.8 |
Notes to the Consolidated St_26
Notes to the Consolidated Statements of Financial Position - Summary of Allocation of Carrying Amounts and Significant Assumptions Used in Determining Fair Value (Detail) - Intangible assets with indefinite useful lives - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 |
Germany | CGU Group Internetstores | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
WACC (after taxes) | 10.21% | |
6-year CAGR (Compound Annual Growth Rate) | 20.14% | |
Carrying amount in EUR million | € 65.2 | |
Tax rate | 30.53% | |
Growth rate terminal value | 1% | |
Terminal value EBITDA margin | 9.65% | |
Germany | CGU Group Tennis | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
WACC (after taxes) | 9.70% | |
6-year CAGR (Compound Annual Growth Rate) | 18.11% | |
Carrying amount in EUR million | € 15.3 | |
Tax rate | 30.21% | |
Growth rate terminal value | 1% | |
Terminal value EBITDA margin | 7.76% | |
Switzerland | CGU Group Internetstores | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
WACC (after taxes) | 10.21% | |
6-year CAGR (Compound Annual Growth Rate) | 20.14% | |
Carrying amount in EUR million | € 32 | |
Tax rate | 30.53% | |
Growth rate terminal value | 1% | |
Terminal value EBITDA margin | 9.65% | |
Switzerland | CGU Wiggle | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
WACC (after taxes) | 10.21% | |
6-year CAGR (Compound Annual Growth Rate) | 20.14% | |
Carrying amount in EUR million | € 13 | |
Tax rate | 30.53% | |
Growth rate terminal value | 1% | |
Terminal value EBITDA margin | 9.65% | |
Sweden | CGU Wiggle | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
WACC (after taxes) | 10.21% | |
6-year CAGR (Compound Annual Growth Rate) | 20.14% | |
Carrying amount in EUR million | € 9.7 | |
Tax rate | 30.53% | |
Growth rate terminal value | 1% | |
Terminal value EBITDA margin | 9.65% | |
CGU Group Internetstores | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
6-year CAGR (Compound Annual Growth Rate) | 20.06% | 25.63% |
Carrying amount in EUR million | € 136.2 | € 136.4 |
CGU Group Publikat | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
6-year CAGR (Compound Annual Growth Rate) | 15.87% | |
Royalty rate | 0.27% | |
Carrying amount in EUR million | € 0.7 | |
Tennis | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
6-year CAGR (Compound Annual Growth Rate) | 17.61% | 20.63% |
Royalty rate | 0.57% | |
Carrying amount in EUR million | € 15.3 | € 15.3 |
Outfitter Teamsport & Ballside | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
WACC (after taxes) | 9.82% | 9.04% |
6-year CAGR (Compound Annual Growth Rate) | 13.06% | 19.56% |
Royalty rate | 0.92% | 1.17% |
Carrying amount in EUR million | € 3.8 | € 3.8 |
Wiggle Group | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
WACC (after taxes) | 9.95% | |
6-year CAGR (Compound Annual Growth Rate) | 12.70% | |
Carrying amount in EUR million | € 103.5 | |
Bottom of range | CGU Group Internetstores | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
WACC (after taxes) | 10.07% | 8.63% |
Royalty rate | 0.72% | 0.72% |
Bottom of range | CGU Group Publikat | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
WACC (after taxes) | 9.01% | |
Bottom of range | Tennis | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
WACC (after taxes) | 9.53% | 9.13% |
Royalty rate | 1.08% | |
Bottom of range | Wiggle Group | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
Royalty rate | 1% | |
Top of range | CGU Group Internetstores | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
WACC (after taxes) | 12.93% | 10.38% |
Royalty rate | 1.95% | 5.27% |
Top of range | CGU Group Publikat | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
WACC (after taxes) | 10.42% | |
Top of range | Tennis | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
WACC (after taxes) | 12.36% | 10.87% |
Royalty rate | 1.54% | |
Top of range | Wiggle Group | ||
Disclosure Of Key Assumptions Used For The Assessment Of Impairment Of Goodwill [line items] | ||
Royalty rate | 1.25% |
Notes to the Consolidated St_27
Notes to the Consolidated Statements of Financial Position - Summary of Key Assumptions Used to Change for Significant Goodwill (Detail) - Goodwill € in Millions | Sep. 30, 2022 EUR (€) | Sep. 30, 2021 |
CGU Group Internetstores | ||
Disclosure Of Prospective Changes That Shall Occur In The Value Of Significant Unobservable Inputs For The Recoverable Amount Of Goodwill To Be Equal To The Carrying Amount [line items] | ||
Headroom in EUR million | € 329.8 | |
CGU Group Internetstores | Terminal Value EBITDA margin | ||
Disclosure Of Prospective Changes That Shall Occur In The Value Of Significant Unobservable Inputs For The Recoverable Amount Of Goodwill To Be Equal To The Carrying Amount [line items] | ||
Amount by which value assigned to key assumption must change in order for unit's recoverable amount to be equal to carrying amount | (0.048) | (0.112) |
CGU Group Internetstores | 6-year CAGR (Compound Annual Growth Rate) | ||
Disclosure Of Prospective Changes That Shall Occur In The Value Of Significant Unobservable Inputs For The Recoverable Amount Of Goodwill To Be Equal To The Carrying Amount [line items] | ||
Amount by which value assigned to key assumption must change in order for unit's recoverable amount to be equal to carrying amount | (0.083) | |
CGU Group Internetstores | 5-year CAGR (Compound Annual Growth Rate) | ||
Disclosure Of Prospective Changes That Shall Occur In The Value Of Significant Unobservable Inputs For The Recoverable Amount Of Goodwill To Be Equal To The Carrying Amount [line items] | ||
Amount by which value assigned to key assumption must change in order for unit's recoverable amount to be equal to carrying amount | (0.100) | |
CGU Group Tennis | Terminal Value EBITDA margin | ||
Disclosure Of Prospective Changes That Shall Occur In The Value Of Significant Unobservable Inputs For The Recoverable Amount Of Goodwill To Be Equal To The Carrying Amount [line items] | ||
Amount by which value assigned to key assumption must change in order for unit's recoverable amount to be equal to carrying amount | (0.079) | |
CGU Group Tennis | 5-year CAGR (Compound Annual Growth Rate) | ||
Disclosure Of Prospective Changes That Shall Occur In The Value Of Significant Unobservable Inputs For The Recoverable Amount Of Goodwill To Be Equal To The Carrying Amount [line items] | ||
Amount by which value assigned to key assumption must change in order for unit's recoverable amount to be equal to carrying amount | (0.058) | |
CGU Group Publikat | Terminal Value EBITDA margin | ||
Disclosure Of Prospective Changes That Shall Occur In The Value Of Significant Unobservable Inputs For The Recoverable Amount Of Goodwill To Be Equal To The Carrying Amount [line items] | ||
Amount by which value assigned to key assumption must change in order for unit's recoverable amount to be equal to carrying amount | (0.002) | |
CGU Group Publikat | 5-year CAGR (Compound Annual Growth Rate) | ||
Disclosure Of Prospective Changes That Shall Occur In The Value Of Significant Unobservable Inputs For The Recoverable Amount Of Goodwill To Be Equal To The Carrying Amount [line items] | ||
Amount by which value assigned to key assumption must change in order for unit's recoverable amount to be equal to carrying amount | (0.029) |
Notes to the Consolidated St_28
Notes to the Consolidated Statements of Financial Position - Summary of Key Assumptions Used to Change for Significant CGUs (Details) - Switzerland - Intangible assets with indefinite useful lives € in Millions | Sep. 30, 2022 EUR (€) |
CGU Group Internetstores | |
Disclosure Of Prospective Changes That Shall Occur In The Value Of Significant Unobservable Inputs For The Recoverable Amount Of Goodwill To Be Equal To The Carrying Amount [line items] | |
Headroom in EUR million | € 4.1 |
CGU Group Internetstores | Terminal Value EBITDA margin | |
Disclosure Of Prospective Changes That Shall Occur In The Value Of Significant Unobservable Inputs For The Recoverable Amount Of Goodwill To Be Equal To The Carrying Amount [line items] | |
Amount by which value assigned to key assumption must change in order for unit's recoverable amount to be equal to carrying amount | (0.007) |
CGU Group Internetstores | 5-year CAGR (Compound Annual Growth Rate) | |
Disclosure Of Prospective Changes That Shall Occur In The Value Of Significant Unobservable Inputs For The Recoverable Amount Of Goodwill To Be Equal To The Carrying Amount [line items] | |
Amount by which value assigned to key assumption must change in order for unit's recoverable amount to be equal to carrying amount | (0.015) |
CGU Wiggle | |
Disclosure Of Prospective Changes That Shall Occur In The Value Of Significant Unobservable Inputs For The Recoverable Amount Of Goodwill To Be Equal To The Carrying Amount [line items] | |
Headroom in EUR million | € 2.7 |
CGU Wiggle | Terminal Value EBITDA margin | |
Disclosure Of Prospective Changes That Shall Occur In The Value Of Significant Unobservable Inputs For The Recoverable Amount Of Goodwill To Be Equal To The Carrying Amount [line items] | |
Amount by which value assigned to key assumption must change in order for unit's recoverable amount to be equal to carrying amount | (0.013) |
CGU Wiggle | 5-year CAGR (Compound Annual Growth Rate) | |
Disclosure Of Prospective Changes That Shall Occur In The Value Of Significant Unobservable Inputs For The Recoverable Amount Of Goodwill To Be Equal To The Carrying Amount [line items] | |
Amount by which value assigned to key assumption must change in order for unit's recoverable amount to be equal to carrying amount | (0.029) |
Notes to the Consolidated St_29
Notes to the Consolidated Statements of Financial Position - Summary of Key Assumptions Used to Change for Significant Intangible Assets (Detail) - Intangible assets with indefinite useful lives - 5-year CAGR (Compound Annual Growth Rate) | Sep. 30, 2021 |
Fahrrad.de | |
Disclosure Of Prospective Changes That Shall Occur In The Value Of Significant Unobservable Inputs For The Recoverable Amount Of Intangible Assets With Indefinite Useful Lives To Be Equal To The Carrying Amount [line items] | |
Amount by which value assigned to key assumption must change in order for unit's recoverable amount to be equal to carrying amount | (0.206) |
Bikester.ch | |
Disclosure Of Prospective Changes That Shall Occur In The Value Of Significant Unobservable Inputs For The Recoverable Amount Of Intangible Assets With Indefinite Useful Lives To Be Equal To The Carrying Amount [line items] | |
Amount by which value assigned to key assumption must change in order for unit's recoverable amount to be equal to carrying amount | (0.191) |
Internetstores (excl. Fahrrad.de and Bikester.ch) | |
Disclosure Of Prospective Changes That Shall Occur In The Value Of Significant Unobservable Inputs For The Recoverable Amount Of Intangible Assets With Indefinite Useful Lives To Be Equal To The Carrying Amount [line items] | |
Amount by which value assigned to key assumption must change in order for unit's recoverable amount to be equal to carrying amount | (0.302) |
Tennis | |
Disclosure Of Prospective Changes That Shall Occur In The Value Of Significant Unobservable Inputs For The Recoverable Amount Of Intangible Assets With Indefinite Useful Lives To Be Equal To The Carrying Amount [line items] | |
Amount by which value assigned to key assumption must change in order for unit's recoverable amount to be equal to carrying amount | (0.153) |
Outfitter Teamsport & Ballside | |
Disclosure Of Prospective Changes That Shall Occur In The Value Of Significant Unobservable Inputs For The Recoverable Amount Of Intangible Assets With Indefinite Useful Lives To Be Equal To The Carrying Amount [line items] | |
Amount by which value assigned to key assumption must change in order for unit's recoverable amount to be equal to carrying amount | (0.271) |
Notes to the Consolidated St_30
Notes to the Consolidated Statements of Financial Position - Summary Of Property Plant And Equipment Excluding Right Of Use Assets (Details) - EUR (€) € in Millions | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | € 37.7 | |
Ending balance | 48.5 | € 37.7 |
Land and buildings | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 3.8 | |
Ending balance | 5.1 | 3.8 |
Technical facilities and machine | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 8.6 | |
Ending balance | 11.3 | 8.6 |
Other facilities, operating and business equipment | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 24.3 | |
Ending balance | 28.6 | 24.3 |
Assets under construction | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 1.1 | |
Ending balance | 3.4 | 1.1 |
Cost | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 58.4 | 49.9 |
Business combination | 9.6 | 0.1 |
Additions | 13.5 | 9.8 |
Transfers | 0 | 0 |
Disposals | (4.8) | (1.5) |
Currency translation differences | (0.3) | 0 |
Ending balance | 76.4 | 58.4 |
Cost | Land and buildings | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 4.6 | 3.9 |
Business combination | 1.7 | 0 |
Additions | 0.1 | 0.3 |
Transfers | 0.2 | 0.5 |
Disposals | 0 | 0 |
Currency translation differences | (0.1) | 0 |
Ending balance | 6.6 | 4.6 |
Cost | Technical facilities and machine | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 11.7 | 10.2 |
Business combination | 0 | 0 |
Additions | 3.9 | 0.8 |
Transfers | 0.4 | 0.8 |
Disposals | (0.6) | 0 |
Currency translation differences | 0 | 0 |
Ending balance | 15.4 | 11.7 |
Cost | Other facilities, operating and business equipment | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 41 | 31.6 |
Business combination | 7.8 | 0.1 |
Additions | 4.9 | 3.6 |
Transfers | 1.4 | 7.1 |
Disposals | (3.8) | (1.5) |
Currency translation differences | (0.2) | 0 |
Ending balance | 51 | 41 |
Cost | Assets under construction | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 1.1 | 4.3 |
Business combination | 0.1 | 0 |
Additions | 4.6 | 5.2 |
Transfers | (2) | (8.4) |
Disposals | (0.3) | 0 |
Currency translation differences | 0 | 0 |
Ending balance | 3.4 | 1.1 |
Accumulated depreciation | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (20.7) | (16) |
Additions | (7.9) | (5.6) |
Impairment loss | (3.6) | (0.4) |
Disposals | 4.2 | 1.4 |
Currency translation differences | 0 | 0 |
Ending balance | (28) | (20.7) |
Accumulated depreciation | Land and buildings | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (0.9) | (0.4) |
Additions | (0.6) | (0.4) |
Impairment loss | 0 | 0 |
Disposals | 0 | 0 |
Currency translation differences | 0 | 0 |
Ending balance | (1.5) | (0.9) |
Accumulated depreciation | Technical facilities and machine | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (3.1) | (1.8) |
Additions | (1.6) | (1.1) |
Impairment loss | 0 | (0.2) |
Disposals | 0.6 | 0 |
Currency translation differences | 0 | 0 |
Ending balance | (4.1) | (3.1) |
Accumulated depreciation | Other facilities, operating and business equipment | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (16.7) | (13.8) |
Additions | (5.7) | (4.1) |
Impairment loss | (3.6) | (0.1) |
Disposals | 3.6 | 1.4 |
Currency translation differences | 0 | 0 |
Ending balance | (22.4) | (16.7) |
Accumulated depreciation | Assets under construction | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 0 | 0 |
Additions | 0 | 0 |
Impairment loss | 0 | 0 |
Disposals | 0 | 0 |
Currency translation differences | 0 | 0 |
Ending balance | € 0 | € 0 |
Notes to the Consolidated St_31
Notes to the Consolidated Statements of Financial Position - Summary of recognized right-of-use assets (Details) - EUR (€) € in Millions | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Disclosure of quantitative information about right-of-use assets [line items] | ||
Right-of-use assets, beginning balance | € 60.6 | |
Right-of-use assets, ending balance | 139.6 | € 60.6 |
Cost | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Right-of-use assets, beginning balance | 83.8 | 50.5 |
Additions | 87.8 | 39.5 |
Derecognition | (15.6) | (6.9) |
Acquisition through business combinations | 25.1 | 0.6 |
Currency translation differences | (0.9) | 0.1 |
Right-of-use assets, ending balance | 180.2 | 83.8 |
Accumulated depreciation | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Right-of-use assets, beginning balance | (23.2) | (15.4) |
Additions | (22.4) | (10.6) |
Derecognition | (5) | (2.6) |
Currency translation differences | 0.1 | 0 |
Right-of-use assets, ending balance | (40.6) | (23.2) |
Land and buildings | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Right-of-use assets, beginning balance | 57.3 | |
Right-of-use assets, ending balance | 138 | 57.3 |
Land and buildings | Cost | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Right-of-use assets, beginning balance | 78.4 | 46.2 |
Additions | 86 | 38 |
Derecognition | (10.6) | (6.6) |
Acquisition through business combinations | 25.1 | 0.6 |
Currency translation differences | (0.9) | 0.1 |
Right-of-use assets, ending balance | 178 | 78.4 |
Land and buildings | Accumulated depreciation | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Right-of-use assets, beginning balance | (21.1) | (13.6) |
Additions | (21.8) | (9.8) |
Derecognition | (2.9) | (2.3) |
Currency translation differences | 0.1 | 0 |
Right-of-use assets, ending balance | (39.9) | (21.1) |
Technical facilities and machine | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Right-of-use assets, beginning balance | 2.3 | |
Right-of-use assets, ending balance | 1.3 | 2.3 |
Technical facilities and machine | Cost | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Right-of-use assets, beginning balance | 4.2 | 3.8 |
Additions | 1.7 | 0.5 |
Derecognition | (4) | (0.1) |
Acquisition through business combinations | 0 | 0 |
Currency translation differences | 0 | 0 |
Right-of-use assets, ending balance | 1.9 | 4.2 |
Technical facilities and machine | Accumulated depreciation | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Right-of-use assets, beginning balance | (1.9) | (1.4) |
Additions | (0.5) | (0.6) |
Derecognition | (1.8) | (0.1) |
Currency translation differences | 0 | 0 |
Right-of-use assets, ending balance | (0.5) | (1.9) |
Other facilities, operating and business equipment | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Right-of-use assets, beginning balance | 1 | |
Right-of-use assets, ending balance | 0.2 | 1 |
Other facilities, operating and business equipment | Cost | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Right-of-use assets, beginning balance | 1.2 | 0.5 |
Additions | 0.2 | 0.9 |
Derecognition | (1) | (0.2) |
Acquisition through business combinations | 0 | 0 |
Currency translation differences | 0 | 0 |
Right-of-use assets, ending balance | 0.4 | 1.2 |
Other facilities, operating and business equipment | Accumulated depreciation | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Right-of-use assets, beginning balance | (0.2) | (0.3) |
Additions | (0.1) | (0.2) |
Derecognition | (0.2) | (0.2) |
Currency translation differences | 0 | 0 |
Right-of-use assets, ending balance | € (0.1) | € (0.2) |
Notes to the Consolidated St_32
Notes to the Consolidated Statements of Financial Position - Summary Of Detailed Information About Lease Liabilities (Details) - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 |
Statement of financial position [abstract] | ||
Current | € 20.7 | € 11 |
Non-current | 123.4 | 49.9 |
Total Lease liabilities | € 144.2 | € 60.9 |
Notes to the Consolidated St_33
Notes to the Consolidated Statements of Financial Position - Summary Of Maturity Analysis Of Operating Lease Payments (Details) - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 |
Disclosure of maturity analysis of operating lease payments [line items] | ||||
Maturity lease liabilities | € 123.4 | € 49.9 | € 27.6 | € 30.3 |
One to five years | ||||
Disclosure of maturity analysis of operating lease payments [line items] | ||||
Maturity lease liabilities | 85 | 32.1 | ||
More than five years | ||||
Disclosure of maturity analysis of operating lease payments [line items] | ||||
Maturity lease liabilities | € 38.5 | € 17.8 |
Notes to the Consolidated St_34
Notes to the Consolidated Statements of Financial Position - Summary Of Detailed Information About Lease Amounts Recognized In Profit Or Loss (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Statement of financial position [abstract] | |||
Interest on lease liabilities | € (2.5) | € (0.3) | € (0.4) |
Expense relating to variable lease payment not included in lease liabilities | 0 | 0 | 0 |
Expenses relating to short term leases | (0.1) | 0 | 0 |
Expenses relating to leases of low-value assets, excluding short-term leases of low-value assets | € 0 | € 0 | € 0 |
Notes to the Consolidated St_35
Notes to the Consolidated Statements of Financial Position - Summary Of Deferred Tax Assets And Liabilities (Details) - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 |
Statement of financial position [abstract] | ||
Deferred taxes, assets | € 95.4 | € 32.2 |
Netting, assets | (95.4) | (32.2) |
Total, assets | 0 | 0 |
Deferred taxes, liabilities | 136.3 | 72.3 |
Netting, liabilities | (95.4) | (32.2) |
Deferred tax liabilities | € 40.9 | € 40.1 |
Notes to the Consolidated St_36
Notes to the Consolidated Statements of Financial Position - Summary Of Changes In Deferred Tax Assets And Liabilities Results From The Effects (Details) - EUR (€) € in Millions | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Deferred tax liabilities | € 40.9 | € 40.1 |
Recognized deferred taxes (net) | (40.9) | (40.1) |
Changes compared to the previous year | (0.8) | (0.5) |
of which recognized in the consolidated statement of profit and loss | 28.6 | 0.1 |
of which recognized in other comprehensive income for hedging | 0.4 | (0.2) |
of which recognized in other comprehensive income for currency translation | 0.5 | 0 |
of which recognized in the context of business combinations | € (30.3) | € (0.4) |
Notes to the Consolidated St_37
Notes to the Consolidated Statements of Financial Position - Summary Of Allocation Of Deferred Taxes From Temporary Differences To The Respective Assets And Liabilities (Details) - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 |
Non-current assets | ||
Intangible assets | € 0.2 | € 0 |
Intangible assets | 90.6 | 51.4 |
Property, plant and equipment | 0 | 0 |
Property, plant and equipment | 0.5 | 0.2 |
Right-of-use assets (IFRS 16) | 0 | 0 |
Right-of-use assets (IFRS 16) | 35.5 | 18 |
Other financial assets | 0 | |
Other financial assets | 2.5 | |
Current assets | ||
Inventories | 0.8 | 0 |
Inventories | 0 | 1.1 |
Trade and other receivables | 1.2 | 0.9 |
Trade and other receivables | 0 | 0 |
Other assets | 0.3 | 0 |
Other assets | 0.7 | 0.3 |
Non-current liabilities | ||
Financial liabilities | 2.2 | 1.7 |
Financial liabilities | 0 | 0 |
Lease liabilities | 29.7 | 14.1 |
Current liabilities | ||
Financial liabilities | 4.5 | 0.7 |
Financial liabilities | 0.4 | 0 |
Lease liabilities | 5.2 | 2.9 |
Other provisions | 6.9 | 0.3 |
Other provisions | 0 | 0 |
Trade payables and other liabilities | 0 | 0.5 |
Trade payables and other liabilities | 4.7 | 0.8 |
Other liabilities | 0 | 0.2 |
Other liabilities | 1.4 | 0.5 |
Total temporary differences | 51 | 21.3 |
Total temporary differences | 136.3 | 72.3 |
Tax loss carryforwards | 44.4 | 8.4 |
Tax loss carryforwards | 0 | 0 |
Interest carryforwards | 0 | 2.5 |
Interest carryforwards | 0 | 0 |
Total before netting | 95.4 | 32.2 |
Total before netting | 136.3 | 72.3 |
Netting | (95.4) | (32.2) |
Netting | (95.4) | (32.2) |
Total after netting | 0 | 0 |
Total after netting | € 40.9 | € 40.1 |
Notes to the Consolidated St_38
Notes to the Consolidated Statements of Financial Position - Summary Of Inventories (Detail) - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 |
Statement of financial position [abstract] | ||
Raw materials and supplies | € 0.4 | € 0.4 |
Merchandise | 291.8 | 173.7 |
Right of return assets | 6.7 | 7.7 |
Total | € 299 | € 181.9 |
Notes to the Consolidated St_39
Notes to the Consolidated Statements of Financial Position - Summary Of Trade receivables (Detail) - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 |
Disclosure Of Trade And Other Receivables [Line Items] | ||
Valuation adjustments (ECL) | € (5.6) | € (4.5) |
Trade receivables | 25.1 | 26.3 |
Cost | ||
Disclosure Of Trade And Other Receivables [Line Items] | ||
Trade receivables | € 30.7 | € 30.8 |
Notes to the Consolidated St_40
Notes to the Consolidated Statements of Financial Position - Summary Of Other current financial assets (Detail) - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 |
Statement of financial position [abstract] | ||
Supplier discounts and bonuses | € 8.7 | € 9.6 |
Derivative financial instruments | 1.1 | 0.5 |
Other | 10.3 | 14 |
Total | € 20.1 | € 24 |
Notes to the Consolidated St_41
Notes to the Consolidated Statements of Financial Position - Summary Of Other current assets (Detail) - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 |
Statement of financial position [abstract] | ||
Other tax receivables | € 25.7 | € 18.8 |
Prepaid expenses | 8.4 | 2.5 |
Miscellaneous other current assets | 17.7 | 12 |
Total | € 51.8 | € 33.4 |
Notes to the Consolidated St_42
Notes to the Consolidated Statements of Financial Position - Summary Of Cash and cash equivalents (Detail) - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | [1] | Sep. 30, 2019 | [1] | |
Statement of financial position [abstract] | |||||||
Cash on hand | € 0.3 | € 0.1 | |||||
Bank balances | 42.6 | 50.6 | |||||
Total | € 43 | € 50.7 | [1] | € 95.6 | € 108.1 | ||
[1]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations. |
Notes to the Consolidated St_43
Notes to the Consolidated Statements of Financial Position - Summary of provisions (Details) - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 |
Disclosure Of Provisions [Line Items] | |||
Beginning balance of non-current provisions | € 2.4 | € 0.1 | € 0.1 |
Current provisions | (1) | (4.9) | (2.9) |
Business Combinations | 3.1 | ||
Use of provision | (0.7) | (1.7) | |
Reversal | (3.3) | (0.2) | |
Additions | 0.1 | 3.9 | |
Discount effect | (0.8) | ||
Ending balance of provisions | 3.4 | 5 | € 3 |
Expected cash flow | 0 | ||
Within 12 months | |||
Disclosure Of Provisions [Line Items] | |||
Beginning balance of non-current provisions | 1 | 4.9 | |
Within 1-5 years | |||
Disclosure Of Provisions [Line Items] | |||
Beginning balance of non-current provisions | 0.3 | 0.1 | |
After 5 years | |||
Disclosure Of Provisions [Line Items] | |||
Beginning balance of non-current provisions | € 2.1 | € 0 |
Notes to the Consolidated St_44
Notes to the Consolidated Statements of Financial Position - Summary Of Non-Current Financial Liabilities (Details) - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 |
Statement of financial position [abstract] | ||||
Liabilities to financial institutions | € 103.7 | € 80.4 | ||
Lease liabilities | 123.4 | 49.9 | € 27.6 | € 30.3 |
Other | 90.1 | 10.1 | ||
Total | € 317.2 | € 140.4 |
Notes to the Consolidated St_45
Notes to the Consolidated Statements of Financial Position - Summary Of Carrying Amounts Of Assets Pledged As Security For Current And Non-Current Borrowings (Details) - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 |
Statement of financial position [abstract] | ||
Inventories | € 19.4 | € 17.4 |
Total current assets pledged as security | € 19.4 | € 17.4 |
Notes to the Consolidated St_46
Notes to the Consolidated Statements of Financial Position - Summary of other non current liabilities (Details) - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 |
Statement of financial position [abstract] | ||
Personnel related liabilities | € 7.8 | € 0.9 |
Other | 0.1 | 0.1 |
Total | € 7.9 | € 1 |
Notes to the Consolidated St_47
Notes to the Consolidated Statements of Financial Position - Summary of Trade Payables (Detail) - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 |
Statement of financial position [abstract] | ||
Trade payables | € 194.9 | € 102.7 |
Total | € 194.9 | € 102.7 |
Notes to the Consolidated St_48
Notes to the Consolidated Statements of Financial Position - Summary of Other Current Financial Liabilities (Detail) - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 |
Statement of financial position [abstract] | ||
Liabilities to financial institutions | € 4.2 | € 1.3 |
Lease liabilities | 20.7 | 11 |
Derivative financial instruments | 2.3 | 0 |
Other | 15.2 | 15.4 |
Total | € 42.4 | € 27.7 |
Notes to the Consolidated St_49
Notes to the Consolidated Statements of Financial Position - Summary of Other Current Liabilities (Detail) - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 |
Statement of financial position [abstract] | ||
Liabilities from other taxes | € 26.9 | € 17.4 |
Liabilities for personnel expenses | 16 | 12.9 |
Payables to customers | 2.5 | 3.4 |
Refund liability | 13.3 | 10.7 |
Other liabilities | 15.6 | 1.8 |
Current income tax liabilities | 1.2 | 1.7 |
Total | € 75.6 | € 47.9 |
Notes to the Consolidated St_50
Notes to the Consolidated Statements of Financial Position - Summary of Contract Liabilities (Detail) - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 |
Statement of financial position [abstract] | ||
Contract liabilities | € 9.3 | € 4.7 |
Notes to the Consolidated St_51
Notes to the Consolidated Statements of Changes in Equity - Additional Information (Detail) € in Millions | 1 Months Ended | 12 Months Ended | ||||||||||
Dec. 14, 2021 EUR (€) | Sep. 30, 2021 EUR (€) | Jan. 29, 2021 shares | Jun. 30, 2021 loan | Feb. 28, 2021 | Sep. 30, 2022 EUR (€) | Sep. 30, 2021 EUR (€) | Sep. 30, 2020 EUR (€) | Sep. 28, 2021 EUR (€) | Sep. 14, 2020 $ / shares | |||
Notes to the Consolidated Statement of Changes in Equity [Line Items] | ||||||||||||
Net equity proceeds | € 402.7 | |||||||||||
Transaction costs | 5.9 | € 5.9 | € 0 | [1] | € 0 | [1] | ||||||
Reserve of equity component of convertible instruments | € 1.7 | 0 | 1.7 | |||||||||
Increase in share capital to be made | € 1.7 | |||||||||||
Conversion of convertible loan | 73.8 | € 3.1 | ||||||||||
Increase in share capital | 2 | |||||||||||
Share capital - not yet registered | 2 | 0 | 2 | |||||||||
Transaction costs of the capital increase after taxes | 1.2 | 5.9 | 1.2 | |||||||||
Executives | Roll Up Agreements | D1 - Shares | ||||||||||||
Notes to the Consolidated Statement of Changes in Equity [Line Items] | ||||||||||||
Shares, exercise price (in USD per share) | $ / shares | $ 441.5 | |||||||||||
Shares exercised during period (in shares) | shares | 2,909 | |||||||||||
Bottom of range | SIGNA Beteiligung I UG (haftungsbeschränkt) & Co KG | ||||||||||||
Notes to the Consolidated Statement of Changes in Equity [Line Items] | ||||||||||||
Percentage of ownership interest | 41.83% | |||||||||||
Bottom of range | SIGNA Sport Online GmbH | ||||||||||||
Notes to the Consolidated Statement of Changes in Equity [Line Items] | ||||||||||||
Percentage of ownership interest | 84.69% | |||||||||||
Bottom of range | Tennis Point GmbH | ||||||||||||
Notes to the Consolidated Statement of Changes in Equity [Line Items] | ||||||||||||
Percentage of ownership interest | 88% | |||||||||||
Top of range | SIGNA Beteiligung I UG (haftungsbeschränkt) & Co KG | ||||||||||||
Notes to the Consolidated Statement of Changes in Equity [Line Items] | ||||||||||||
Percentage of ownership interest | 46.94% | |||||||||||
Top of range | SIGNA Sport Online GmbH | ||||||||||||
Notes to the Consolidated Statement of Changes in Equity [Line Items] | ||||||||||||
Percentage of ownership interest | 84.94% | |||||||||||
Top of range | Tennis Point GmbH | ||||||||||||
Notes to the Consolidated Statement of Changes in Equity [Line Items] | ||||||||||||
Percentage of ownership interest | 89% | |||||||||||
Convertible loan | ||||||||||||
Notes to the Consolidated Statement of Changes in Equity [Line Items] | ||||||||||||
Number of loans | loan | 5 | |||||||||||
Convertible loan, Carrying amount of the loan component reclassified to capital reserve and share capital | 75.4 | 75.4 | ||||||||||
Convertible loan | Previously stated | ||||||||||||
Notes to the Consolidated Statement of Changes in Equity [Line Items] | ||||||||||||
Reserve of equity component of convertible instruments | € 3.1 | 3.1 | ||||||||||
Non-controlling interests | ||||||||||||
Notes to the Consolidated Statement of Changes in Equity [Line Items] | ||||||||||||
Number of shares outstanding (in shares) | shares | 3,177 | |||||||||||
Non-controlling interests | SIGNA Beteiligung I UG (haftungsbeschränkt) & Co KG | ||||||||||||
Notes to the Consolidated Statement of Changes in Equity [Line Items] | ||||||||||||
Percentage of additional interest acquired | 5.11% | |||||||||||
Non-controlling interests | SIGNA Sport Online GmbH | ||||||||||||
Notes to the Consolidated Statement of Changes in Equity [Line Items] | ||||||||||||
Percentage of additional interest acquired | 0.25% | |||||||||||
Non-controlling interests | Tennis Point GmbH | ||||||||||||
Notes to the Consolidated Statement of Changes in Equity [Line Items] | ||||||||||||
Percentage of additional interest acquired | 1% | |||||||||||
Share capital | ||||||||||||
Notes to the Consolidated Statement of Changes in Equity [Line Items] | ||||||||||||
Increase in equity | 11.6 | |||||||||||
Share capital | October 7, 2021 | ||||||||||||
Notes to the Consolidated Statement of Changes in Equity [Line Items] | ||||||||||||
Conversion of convertible loan | 1.7 | |||||||||||
Capital reserve | ||||||||||||
Notes to the Consolidated Statement of Changes in Equity [Line Items] | ||||||||||||
Increase in equity | € 391.1 | |||||||||||
Conversion of convertible loan | 73.8 | |||||||||||
Transaction costs of the capital increase after taxes | € 5.9 | € 1.2 | ||||||||||
[1]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations. |
Notes to the Consolidated St_52
Notes to the Consolidated Statements of Changes in Equity - Summary of the Effect of Changes in the Group Ownership Interests (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | [1] | ||
Disclosure of Effect of Changes in the Group Ownership Interests [Abstract] | |||||
Carrying amount of non-controlling interest acquired | € 24.4 | ||||
Consideration transferred | 122.8 | ||||
Thereof paid in cash | € 0 | 4.7 | [1] | € 0.4 | |
A decrease in equity attributable to owners of the Group | € 98.4 | ||||
[1]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations. |
Notes to the Consolidated St_53
Notes to the Consolidated Statements of Cash Flows - Additional Information (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||||
Cash outflow from the acquisition of subsidiaries | € 192.9 | € 7.5 | [1] | € 0.3 | [1] |
Midwest Sports Supply LLC. | |||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||||
Cash outflow from the acquisition of subsidiaries | € 7.7 | ||||
System Sport GmbH | |||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||||
Cash outflow from the acquisition of subsidiaries | € 0.7 | ||||
[1]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations. |
Notes to the Consolidated St_54
Notes to the Consolidated Statements of Cash Flows - Summary of cash inflows and outflows from financing activities (Detail) - EUR (€) € in Millions | 12 Months Ended | |||||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 | |||
Group equity | ||||||
Share capital, ending balance | € 46.5 | € 17.6 | € 17.6 | |||
Share capital, cash inflow | 11.6 | |||||
Share capital, other non cash items | 5.6 | |||||
Share capital, conversion | 11.6 | |||||
Share capital, beginning balance | 17.6 | 17.6 | 17.6 | |||
Share capital- not registered, Beginning Balance | 3.6 | 0 | ||||
Share capital- not registered, Other non-cash items | 2 | |||||
Share capital- not registered, Conversion | (3.6) | 1.7 | ||||
Share capital- not registered, Ending Balance | 3.6 | 0 | ||||
Capital reserve, beginning balance | 558.4 | 370.4 | 367.3 | |||
Capital reserve, cash outflow | (5.9) | |||||
Capital reserve, cash inflow | 391.1 | |||||
Capital reserve, other non-cash items | 399.6 | 114.3 | 3.1 | |||
Capital reserve, conversion | (8) | 73.8 | ||||
Capital reserve, ending balance | 1,335.2 | 558.4 | 370.4 | |||
Non-controlling interests, beginning balance | 0 | 24.4 | 26 | |||
Non-controlling interests, cash outflow | (4.6) | (0.4) | ||||
Non-controlling interests, Other non-cash items | (19.7) | (1.2) | ||||
Non-controlling interests, ending balance | 0 | 24.4 | ||||
Non-current financial liabilities | ||||||
Liabilities to other, beginning balance | ||||||
Liabilities to other, cash inflow | 80.1 | |||||
Liabilities to other, ending balance | 80.1 | |||||
Lease liabilities, Beginning Balance | 49.9 | 27.6 | 30.3 | |||
Lease liabilities, Cash outflow | (3.3) | (1) | ||||
Lease liabilities, Other non-cash items | 54.1 | 22.8 | (3.1) | |||
Lease liabilities, Business combinations | 22.8 | 0.5 | 0.4 | |||
Lease liabilities, Ending Balance | 123.4 | 49.9 | 27.6 | |||
Liabilities to financial institutions, Beginning Balance | 80.4 | 34.6 | 10 | |||
Liabilities to financial institutions, Cash outflow | (77.6) | (30.5) | (0.3) | |||
Liabilities to financial institutions, Cash inflow | 25 | 75 | 32 | |||
Liabilities to financial institutions, Other non-cash items | (1.5) | 1.3 | (7.1) | |||
Liabilities to financial institutions, Business combinations | 77.5 | |||||
Liabilities to financial institutions, Ending Balance | 103.7 | 80.4 | 34.6 | |||
Convertible loan, Beginning Balance | 0 | 73.9 | ||||
Convertible loan, Other non-cash items | 1.5 | |||||
Convertible loan, Conversion | (75.4) | |||||
Convertible loan, Ending Balance | 0 | 73.9 | ||||
Financial liabilities to shareholders (including accrued interest), Cash outflow | (19.7) | |||||
Financial liabilities to shareholders (including accrued interest), Conversion | (49.9) | |||||
Financial liabilities to shareholders | € 69.5 | |||||
Convertible loan 2, Beginning balance | 49.3 | 0 | ||||
Convertible loan 2, Other non-cash items | (0.6) | |||||
Convertible loan 2, Conversion | 49.9 | |||||
Convertible loan 2, Ending balance | 49.3 | |||||
Convertible loan 1, Beginning Balance | 24.6 | 0 | ||||
Convertible loan 1, Cash inflow | 24.4 | |||||
Convertible loan 1, Other non-cash items | 0.2 | |||||
Convertible loan 1, Ending balance | 24.6 | |||||
Other current financial liabilities | ||||||
Lease liabilities, Beginning Balance | 11 | 8 | 7 | |||
Lease liabilities, Cash outflow | (16.2) | (9.5) | (7.8) | |||
Lease liabilities, Other non-cash items | 23.7 | 12.3 | 8.8 | |||
Lease liabilities, Business combinations | 2.2 | 0.2 | 0.1 | |||
Lease liabilities, Ending Balance | 20.7 | 11 | 8 | |||
Liabilities to financial institutions, Beginning Balance | 1.3 | 10 | 1 | |||
Liabilities to financial institutions, Cash outflow | (1) | (7.5) | (1) | |||
Liabilities to financial institutions, Cash inflow | 2 | 2.8 | ||||
Liabilities to financial institutions, Other non-cash items | 2 | (1.2) | 7.2 | |||
Liabilities to financial institutions, Ending Balance | 4.2 | 1.3 | 10 | |||
Other loans, Beginning Balance | 0.7 | 0.5 | 0.9 | |||
Other loans, Cash outflow | (0.7) | (0.4) | ||||
Other loans, Cash inflow | 0.2 | |||||
Other loans, Ending Balance | 0.7 | 0.5 | ||||
Financial liabilities to equity holders (including accrued interest), Beginning Balance | 0 | 1.3 | 5.5 | |||
Financial liabilities to equity holders (including accrued interest), Cash outflow | (1.3) | (5.5) | ||||
Financial liabilities to equity holders (including accrued interest), Other non- cash item | 1.3 | |||||
Financial liabilities to equity holders (including accrued interest), Ending Balance | 0 | 1.3 | ||||
Balance, Beginning Balance | 723 | 568.3 | 535.1 | |||
Balance, Cash outflow | (104.7) | (54.4) | (35.1) | |||
Balance, Cash inflow | 509.8 | 75.2 | 59.2 | |||
Balance, Other non-cash items | 483.5 | 133.2 | 8.6 | |||
Balance, Business combinations | 102.5 | 0.7 | 0.5 | |||
Balance, Ending Balance | 1,713.9 | 723 | 568.3 | |||
Net finance costs, Beginning Balance | (13.1) | (6.7) | ||||
Net finance costs, Cash outflow | (5.9) | (3.6) | ||||
Net finance costs, Other non-cash items | (7.2) | (3.2) | ||||
Interest expense | (8.6) | |||||
Interest expense, cash outflow | (4.4) | |||||
Interest expense, Other non cash items | (4.3) | |||||
Profit and loss statement, beginning balance | (13.1) | (6.7) | (8.6) | |||
Profit and loss statement, Cash outflow | (5.9) | (3.6) | (4.4) | |||
Profit and loss statement, Other non-cash items | (7.2) | (3.2) | (4.3) | |||
Proceeds from the recapitalization | 23.6 | 0 | [1] | 0 | [1] | |
Cash flow from financing activities, Cash outflow | (110.6) | (58) | (39.5) | |||
Cash flow from financing activities, Cash inflow | € 533.4 | € 75.2 | € 59.2 | |||
[1]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations. |
Financial risk management - Sum
Financial risk management - Summary of Financial Instruments (Detail) - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | [1] | Sep. 30, 2019 | [1] | |
Disclosure of detailed information about financial instruments [line items] | |||||||
Other non-current financial assets | € 5.1 | € 1.4 | |||||
Trade receivables | 25.1 | 26.3 | |||||
Other current financial assets | 20.1 | 24 | |||||
Cash and cash equivalents | 43 | 50.7 | [1] | € 95.6 | € 108.1 | ||
Non-current financial liabilities | 317.2 | 140.4 | |||||
Trade payables | 194.9 | 102.7 | |||||
Fair value assets | 93.3 | 101.9 | |||||
Fair value liabilities | 410.1 | 211.9 | |||||
Other current financial liabilities | 42.4 | 27.7 | |||||
Other non-current financial assets | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Other non-current financial assets | 5.1 | 1.4 | |||||
Fair value assets | 5.1 | 1.4 | |||||
Trade receivables | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Trade receivables | 25.1 | 26.3 | |||||
Fair value assets | 25.1 | 26.3 | |||||
Other current financial assets | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Other current financial assets | 20.1 | 24 | |||||
Fair value assets | 20.1 | 24 | |||||
Other current financial assets | Other Financial Assets | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Other current financial assets | 19 | 23.5 | |||||
Fair value assets | 19 | 23.5 | |||||
Cash and cash equivalents | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Cash and cash equivalents | 43 | 50.7 | |||||
Fair value assets | 43 | 50.7 | |||||
Non-current financial liabilities | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Non-current financial liabilities | 317.2 | 140.4 | |||||
Fair value liabilities | 193 | 95.2 | |||||
Non-current financial liabilities | Lease liabilities | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Non-current financial liabilities | 123.4 | 49.9 | |||||
Trade payables | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Trade payables | 195.5 | 102.7 | |||||
Fair value liabilities | 102.7 | ||||||
Other current financial liabilities | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Fair value liabilities | 42.4 | 16.7 | |||||
Other current financial liabilities | 42.4 | 27.7 | |||||
Other current financial liabilities | Financial Institutions | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Fair value liabilities | 4.2 | 1.3 | |||||
Other current financial liabilities | 4.2 | 1.3 | |||||
Other current financial liabilities | Lease liabilities | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Other current financial liabilities | 20.7 | 11 | |||||
Other current financial liabilities | Other financial liabilities | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Fair value liabilities | 15.2 | 15.4 | |||||
Other current financial liabilities | 15.2 | 15.4 | |||||
Level 2 of fair value hierarchy | Other non-current financial assets | Related parties | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Other non-current financial assets | 0 | 0 | |||||
Fair value assets | 0 | 0 | |||||
Level 2 of fair value hierarchy | Other non-current financial assets | Cash flow hedges | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Other non-current financial assets | 0 | 0 | |||||
Fair value assets | 0 | 0 | |||||
Level 2 of fair value hierarchy | Other non-current financial assets | Other Financial Assets | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Other non-current financial assets | 5.1 | 1.4 | |||||
Fair value assets | 5.1 | 1.4 | |||||
Level 2 of fair value hierarchy | Other current financial assets | Cash flow hedges | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Other current financial assets | 1.1 | 0.5 | |||||
Fair value assets | 1.1 | 0.5 | |||||
Level 2 of fair value hierarchy | Non-current financial liabilities | Related parties | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Non-current financial liabilities | 80 | ||||||
Fair value liabilities | 81.3 | ||||||
Level 2 of fair value hierarchy | Non-current financial liabilities | Cash flow hedges | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Non-current financial liabilities | 0 | 0 | |||||
Fair value liabilities | 0 | 0 | |||||
Level 2 of fair value hierarchy | Non-current financial liabilities | Financial Institutions | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Non-current financial liabilities | 103.7 | 80.4 | |||||
Fair value liabilities | 101.6 | 85.1 | |||||
Level 2 of fair value hierarchy | Non-current financial liabilities | Other Loans | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Non-current financial liabilities | 0.9 | 0.9 | |||||
Fair value liabilities | 0.9 | 0.9 | |||||
Level 2 of fair value hierarchy | Non-current financial liabilities | Put option liabilities | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Non-current financial liabilities | 5.4 | 9.3 | |||||
Fair value liabilities | 5.4 | 9.3 | |||||
Level 2 of fair value hierarchy | Non-current financial liabilities | Other financial liabilities | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Non-current financial liabilities | 0 | 0 | |||||
Fair value liabilities | 0 | 0 | |||||
Level 2 of fair value hierarchy | Other current financial liabilities | Cash flow hedges | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Fair value liabilities | 2.3 | 0 | |||||
Other current financial liabilities | 2.3 | € 0 | |||||
Level 1 of fair value hierarchy | Non-current financial liabilities | Warrant | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Non-current financial liabilities | 3.8 | ||||||
Fair value liabilities | € 3.8 | ||||||
[1]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations. |
Financial risk management - S_2
Financial risk management - Summary of Change in Level 3 Fair value (Detail) - EUR (€) € in Millions | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2022 | |
Disclosure Of Change In Fair Value Of Financial Instrument In Fair Value Hierarchy [Line Items] | ||
Carrying amount, asset | € 101.9 | € 93.3 |
Fair value assets | 101.9 | 93.3 |
Carrying amount, Liabilities | 207.2 | 410.9 |
Fair value liabilities | 211.9 | 410.1 |
Financial assets measured at amortized cost (AC) | ||
Disclosure Of Change In Fair Value Of Financial Instrument In Fair Value Hierarchy [Line Items] | ||
Carrying amount, asset | 101.5 | 92.2 |
Fair value assets | 101.5 | 92.2 |
Financial assets at fair value profit or loss (FVPL) | ||
Disclosure Of Change In Fair Value Of Financial Instrument In Fair Value Hierarchy [Line Items] | ||
Carrying amount, asset | 0 | 0 |
Fair value assets | 0 | 0 |
Financial assets fair value OCI (Hedge Accounting) | ||
Disclosure Of Change In Fair Value Of Financial Instrument In Fair Value Hierarchy [Line Items] | ||
Carrying amount, asset | 0.5 | 1.1 |
Fair value assets | 0.5 | 1.1 |
Financial liabilities measured at amortized cost (AC) | ||
Disclosure Of Change In Fair Value Of Financial Instrument In Fair Value Hierarchy [Line Items] | ||
Carrying amount, Liabilities | 197.9 | 399.4 |
Fair value liabilities | 202.6 | 398.6 |
Financial liabilities at fair value through profit or loss (FVPL) | ||
Disclosure Of Change In Fair Value Of Financial Instrument In Fair Value Hierarchy [Line Items] | ||
Carrying amount, Liabilities | 9.3 | 9.2 |
Fair value liabilities | 9.3 | 9.2 |
Financial liabilities at fair value OCI (Hedge Accounting) | ||
Disclosure Of Change In Fair Value Of Financial Instrument In Fair Value Hierarchy [Line Items] | ||
Carrying amount, Liabilities | 0 | 2.3 |
Fair value liabilities | 0 | € 2.3 |
Level 3 of fair value hierarchy | ||
Disclosure Of Change In Fair Value Of Financial Instrument In Fair Value Hierarchy [Line Items] | ||
Fair value, beginning balance | 0.6 | |
Changes in fair value | (0.6) | |
Utilization / reversal | 0 | |
Fair value, ending balance | 0 | |
Level 3 of fair value hierarchy | Earn-out liabilities | ||
Disclosure Of Change In Fair Value Of Financial Instrument In Fair Value Hierarchy [Line Items] | ||
Fair value, beginning balance | 0.6 | |
Changes in fair value | (0.6) | |
Utilization / reversal | 0 | |
Fair value, ending balance | € 0 |
Financial risk management - S_3
Financial risk management - Summary of Net Gains and Losses from Financial Instruments (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Gains And Losses From Financial Instruments Based On Valuation Categories According To IFRS 9 [Line Items] | |||
Financial assets measured at amortized cost (AC) | € 1.8 | € 1.8 | € 0.7 |
Financial liabilities measured at amortized cost (AC) | (5.7) | (5.9) | (7.6) |
Financial assets measured at fair value | 0 | 0 | 0.2 |
Financial liabilities measured at fair value | 32.8 | 0 | (0.3) |
Net result | € 28.9 | € (4.1) | € (7) |
Financial risk management - Add
Financial risk management - Additional Information (Detail) € in Millions, £ in Millions, zł in Millions, kr in Millions, kr in Millions, kr in Millions, SFr in Millions, $ in Millions | 12 Months Ended | ||||||||||||||||
Sep. 30, 2022 EUR (€) | Sep. 30, 2022 USD ($) | Sep. 30, 2021 EUR (€) | Sep. 30, 2020 EUR (€) | Sep. 30, 2022 CHF (SFr) | Sep. 30, 2022 SEK (kr) | Sep. 30, 2022 DKK (kr) | Sep. 30, 2022 NOK (kr) | Sep. 30, 2022 PLN (zł) | Sep. 30, 2022 GBP (£) | Sep. 30, 2021 USD ($) | Sep. 30, 2021 CHF (SFr) | Sep. 30, 2021 SEK (kr) | Sep. 30, 2021 DKK (kr) | Sep. 30, 2021 NOK (kr) | Sep. 30, 2021 PLN (zł) | Sep. 30, 2021 GBP (£) | |
Financial Risk Management [Abstract] | |||||||||||||||||
Interest expenses for financial liabilities not measured at fair value through profit or loss | € 5.7 | € 8.1 | € 7.6 | ||||||||||||||
Assets with significant risk of material adjustments | $ 2.1 | SFr 2.4 | kr 33.3 | kr 3.6 | kr 24.6 | zł 1.8 | £ 0.4 | $ 0.2 | SFr 4.8 | kr 42.2 | kr 5.9 | kr 43.2 | zł 0.9 | £ 0.9 | |||
Liabilities with significant risk of material adjustments | $ 46 | SFr 2.9 | kr 27.6 | kr 0.2 | kr 1.6 | zł 0 | £ 0.2 | $ 1.8 | SFr 0.5 | kr 6.8 | kr 0 | kr 0.1 | zł 0 | £ 0.3 | |||
Closing foreign exchange rate | 1 | 1 | 1 | 1 | 1 | 1 | 1 | ||||||||||
Gains (losses) on cash flow hedges, net of tax | (1) | € 0.5 | € (0.1) | ||||||||||||||
Gain (loss) resulting from increase (decrease) in warrant price by 10% | 0.4 | ||||||||||||||||
Gain (loss) resulting from increase (decrease) in exchange rate by 10% | € 0.3 | $ 0.4 |
Financial risk management - S_4
Financial risk management - Summary of Default Risk and Expected Credit Losses (Detail) - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Gross carrying amounts | € 93.3 | € 101.9 | |
Value adjustment | (4.6) | € (4.2) | |
Trade receivables | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Gross carrying amounts | 30.7 | 30.8 | € 25.8 |
Value adjustment | (5.6) | (4.6) | |
Trade receivables | Low risk | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Gross carrying amounts | 20.9 | 23.8 | |
Value adjustment | (3.2) | (2.5) | |
Trade receivables | Medium risk | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Gross carrying amounts | 9.8 | 7 | |
Value adjustment | € (2.4) | € (2.2) |
Financial risk management - S_5
Financial risk management - Summary of Gross Carrying Amount of Trade Receivables and the Valuation Adjustments Developed (Detail) - EUR (€) € in Millions | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Disclosure Of Gross Carrying Amount Of Trade Receivables And The Valuation Adjustments [Line Items] | ||
Receivable, Beginning | € 101.9 | |
Receivable, Ending | 93.3 | € 101.9 |
Value adjustment, Beginning | (4.6) | (4.2) |
Business combinations, Value adjustment | 0 | |
Additions, Value adjustment | (1) | |
Utilization, Value adjustment | 0.5 | |
Cancellations, Value adjustment | 0.2 | |
Exchange rate differences, Value adjustment | 0 | |
Value adjustment, Ending | (4.6) | |
Trade receivables | ||
Disclosure Of Gross Carrying Amount Of Trade Receivables And The Valuation Adjustments [Line Items] | ||
Receivable, Beginning | 30.8 | 25.8 |
Business combinations | 1 | 0.1 |
Additions | 26.6 | 27.5 |
Payments | (26.8) | (21.7) |
Written-off receivables | (1) | (0.9) |
Exchange rate differences | 0.1 | 0 |
Receivable, Ending | 30.7 | 30.8 |
Value adjustment, Beginning | (4.6) | |
Business combinations, Value adjustment | (0.1) | |
Additions, Value adjustment | (1.3) | |
Utilization, Value adjustment | 0.1 | |
Cancellations, Value adjustment | 0.2 | |
Exchange rate differences, Value adjustment | 0 | |
Value adjustment, Ending | € (5.6) | € (4.6) |
Financial risk management - Dis
Financial risk management - Disclosure of Maturity Profile of Financial Liabilities Explanatory (Detail) - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 |
Disclosure Of Maturity Profile Of Financial Liabilities Explanatory [Line Items] | ||
Financial liabilities to financial institutions | € 116.8 | € 87 |
Lease liabilities | 159.6 | 62.3 |
Other financial liabilities | 112.5 | 25.5 |
Trade payables | 195.5 | 102.7 |
Inflow from Hedges | 29.2 | 13.5 |
Outflow from Hedges | (31.2) | (13.8) |
Total | 582.3 | 277.1 |
Less Than One Year | ||
Disclosure Of Maturity Profile Of Financial Liabilities Explanatory [Line Items] | ||
Financial liabilities to financial institutions | 9.9 | 1.3 |
Lease liabilities | 23.4 | 11 |
Other financial liabilities | 18.9 | 15.4 |
Trade payables | 194.9 | 102.7 |
Inflow from Hedges | 29.2 | 12.2 |
Outflow from Hedges | (31.2) | (12.5) |
Total | 245 | 130 |
Within 1-5 years | ||
Disclosure Of Maturity Profile Of Financial Liabilities Explanatory [Line Items] | ||
Financial liabilities to financial institutions | 106.9 | 85.7 |
Lease liabilities | 81.4 | 33.2 |
Other financial liabilities | 93.6 | 10.1 |
Trade payables | 0.6 | 0 |
Inflow from Hedges | 0 | 1.2 |
Outflow from Hedges | 0 | (1.3) |
Total | 282.6 | 128.9 |
More than five years | ||
Disclosure Of Maturity Profile Of Financial Liabilities Explanatory [Line Items] | ||
Financial liabilities to financial institutions | 0 | 0 |
Lease liabilities | 54.7 | 18.1 |
Other financial liabilities | 0 | 0 |
Trade payables | 0 | 0 |
Inflow from Hedges | 0 | 0 |
Outflow from Hedges | 0 | 0 |
Total | 54.7 | 18.1 |
Carrying amount | ||
Disclosure Of Maturity Profile Of Financial Liabilities Explanatory [Line Items] | ||
Financial liabilities to financial institutions | 107.9 | 81.6 |
Lease liabilities | 144.2 | 60.9 |
Other financial liabilities | 105.3 | 25.5 |
Trade payables | 195.5 | 102.7 |
Inflow from Hedges | (2) | (0.4) |
Outflow from Hedges | 0 | 0 |
Total | € 550.8 | € 270.3 |
Financial risk management - D_2
Financial risk management - Disclosure of Detailed Information about Borrowings Explanatory (Detail) - EUR (€) € in Millions | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Disclosure of detailed information about borrowings [line items] | ||
Nominal interest rate | 1.80% | 1.10% |
Secured bank loan | 1% Nominal interest rate | ||
Disclosure of detailed information about borrowings [line items] | ||
Currency | EUR | |
Nominal interest rate | 1% | |
Year of maturity | 2026 | |
Carrying amount | € 0.4 | € 0.5 |
Face value | € 0.3 | 0.4 |
Secured bank loan | 1.3% Nominal interest rate | ||
Disclosure of detailed information about borrowings [line items] | ||
Currency | EUR | |
Nominal interest rate | 1.30% | |
Year of maturity | 2025 | |
Carrying amount | € 0.3 | 0.4 |
Face value | € 0.3 | 0.4 |
Secured bank loan | 1.55% Nominal interest rate | ||
Disclosure of detailed information about borrowings [line items] | ||
Currency | EUR | |
Nominal interest rate | 1.55% | |
Year of maturity | 2025 | |
Carrying amount | € 0.3 | 0.4 |
Face value | € 0.3 | 0.4 |
Secured bank loan | 0.9% Nominal interest rate | ||
Disclosure of detailed information about borrowings [line items] | ||
Currency | EUR | |
Nominal interest rate | 0.90% | |
Year of maturity | 2025 | |
Carrying amount | € 0.2 | 0.2 |
Face value | € 0.2 | 0.2 |
Secured bank loan | 1.3% Nominal interest rate | ||
Disclosure of detailed information about borrowings [line items] | ||
Currency | EUR | |
Nominal interest rate | 1.25% | |
Year of maturity | 2024 | |
Carrying amount | € 0.4 | 0.6 |
Face value | € 0.4 | 0.6 |
Secured bank loan | 1% Nominal interest rate | ||
Disclosure of detailed information about borrowings [line items] | ||
Currency | EUR | |
Nominal interest rate | 0.60% | |
Year of maturity | 2024 | |
Carrying amount | € 0.2 | 0.2 |
Face value | € 0.2 | 0.2 |
Secured bank loan | 0.3% Nominal interest rate | ||
Disclosure of detailed information about borrowings [line items] | ||
Currency | EUR | |
Nominal interest rate | 0.25% | |
Year of maturity | 2026 | |
Carrying amount | € 1.8 | 2 |
Face value | € 1.8 | 2 |
Secured bank loan | 0.3% Nominal interest rate | ||
Disclosure of detailed information about borrowings [line items] | ||
Currency | EUR | |
Nominal interest rate | 0.25% | |
Year of maturity | 2026 | |
Carrying amount | € 1.8 | 2 |
Face value | € 1.8 | 2 |
Secured bank loan | EURIBOR+3.5% margin Nominal interest rate | ||
Disclosure of detailed information about borrowings [line items] | ||
Currency | EUR | |
Nominal interest rate | 0.035% | |
Year of maturity | 2024 | |
Carrying amount | € 100.3 | 75.2 |
Face value | € 100 | 75 |
Unsecured bank loan | 3% Nominal interest rate | ||
Disclosure of detailed information about borrowings [line items] | ||
Currency | USD | |
Nominal interest rate | 2.50% | |
Year of maturity | 2023 | |
Carrying amount | € 2.2 | 0 |
Face value | € 2.2 | 0 |
Unsecured bank loan | EURIBOR+5% margin Nominal interest rate (a) | ||
Disclosure of detailed information about borrowings [line items] | ||
Currency | EUR | |
Nominal interest rate | 0.05% | |
Year of maturity | 2025 | |
Carrying amount | € 51.2 | 0 |
Face value | € 50 | 0 |
Unsecured bank loan | EURIBOR+5% margin Nominal interest rate (b) | ||
Disclosure of detailed information about borrowings [line items] | ||
Currency | EUR | |
Nominal interest rate | 0.05% | |
Year of maturity | 2025 | |
Carrying amount | € 30.2 | 0 |
Face value | € 30 | € 0 |
Financial risk management - D_3
Financial risk management - Disclosure of Objectives Policies and Processes for Managing Capital Explanatory (Detail) - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 |
Disclosure of objectives, policies and processes for managing capital [line items] | ||||
Total equity | € 617.3 | € 373.4 | € 347.1 | € 370.3 |
Total equity and borrowed capital | € 1,309.5 | € 742.9 | € 682 | |
Equity ratio | 47.10% | 50.30% | 50.90% |
Discontinued operations - Narra
Discontinued operations - Narrative (Details) € in Millions | Sep. 30, 2022 EUR (€) |
Disclosure of analysis of single amount of discontinued operations [line items] | |
Impairment loss on inventories | € 8.6 |
Impairment loss on goodwill | 4.1 |
Domains | |
Disclosure of analysis of single amount of discontinued operations [line items] | |
Impairment loss on intangible assets | € 0.7 |
Discontinued operations (Detail
Discontinued operations (Details) - EUR (€) € / shares in Units, € in Millions | 12 Months Ended | ||||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |||
Disposal Groups and Discontinued Operations [Abstract] | |||||
Revenue | € 53 | € 58.2 | € 58.8 | ||
Own work capitalized | 0.1 | 0.4 | 0.3 | ||
Other operating income | 0.1 | 0.7 | 1 | ||
Cost of material | (41.7) | (33.9) | (34.7) | ||
Personnel expense | (9.3) | (9.1) | (9) | ||
Other operating expenses | (19.5) | (20.6) | (18.9) | ||
Depreciation and amortization | (2.3) | (1.8) | (1.1) | ||
Impairment loss | (4.8) | 0 | 0 | ||
Operating result | (24.4) | (6.2) | (3.5) | ||
Finance result | (2) | (2.1) | (1.4) | ||
Earnings before taxes (EBT) | (26.4) | (8.3) | (5) | ||
Income tax expense/benefit | 0 | 0 | 0 | ||
Loss for the period | € (26.4) | € (8.3) | [1] | € (5) | |
Earnings per share [abstract] | |||||
Basic loss per share (in EUR per share) | € (0.1) | € 0 | € 0 | ||
Diluted loss per share (in EUR per share) | € (0.1) | € 0 | € 0 | ||
Cash flow from discontinued operations | € (7.7) | € (13.2) | € (4.5) | ||
Net cash flow from/ (used in) operating activities | (6.6) | (4.3) | [2] | (2.5) | [2] |
Net cash flow from/ (used in) investing activities | (0.6) | (1.2) | [2] | (0.9) | [2] |
Net cash flow from/ (used in) financing activities | € (0.5) | € (7.7) | [2] | € (1.2) | [2] |
[1]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations.[2]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations. |
Commitments, contingent liabi_2
Commitments, contingent liabilities and guarantees - Additional Information (Detail) - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 |
Commitments and Contingencies [Abstract] | ||
Liabilities due to central banks | € 107.9 | € 81.6 |
Related party transactions - Su
Related party transactions - Summary of Transactions Between Related Parties (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
OUTFITTER GmbH | |||
Disclosure of transactions between related parties [line items] | |||
Sale of goods and services, Transaction values | € 0.8 | ||
Purchase of goods and services, Transaction values | € 0.5 | 0.5 | |
Purchase of goods and services, Balance outstanding | 3.8 | ||
SportScheck GmbH | |||
Disclosure of transactions between related parties [line items] | |||
Sale of goods and services, Transaction values | 0.3 | € 0.4 | |
Sale of goods and services, Balance outstanding | 0.3 | 0.5 | |
Purchase of goods and services, Transaction values | 0.5 | 2.7 | 0.2 |
Purchase of goods and services, Balance outstanding | 0 | 0.2 | |
SIGNA Sports United X GmbH | |||
Disclosure of transactions between related parties [line items] | |||
Sale of goods and services, Transaction values | 0.6 | ||
Sale of goods and services, Balance outstanding | 0.4 | ||
Financial receivables and interest, Transaction values | 0 | ||
Financial receivables and interest, Balance outstanding | 1.5 | ||
Tennis-Point UK Ltd. | |||
Disclosure of transactions between related parties [line items] | |||
Sale of goods and services, Balance outstanding | 0.2 | ||
Karstadt Sports | |||
Disclosure of transactions between related parties [line items] | |||
Purchase of goods and services, Transaction values | 2.2 | ||
Galeria Karstadt Kaufhof GmbH | |||
Disclosure of transactions between related parties [line items] | |||
Purchase of goods and services, Transaction values | 0.3 | 0.4 | 5.4 |
Purchase of goods and services, Balance outstanding | 0.1 | 0 | |
SIGNA Retail Selection AG | |||
Disclosure of transactions between related parties [line items] | |||
Purchase of goods and services, Transaction values | 0.5 | 0.4 | |
Purchase of goods and services, Balance outstanding | 0.2 | 0.2 | |
SIGNA Informationstechnologie GmbH | |||
Disclosure of transactions between related parties [line items] | |||
Purchase of goods and services, Transaction values | 0 | 0.1 | |
Purchase of goods and services, Balance outstanding | 0 | ||
o5 Logistik GmbH | |||
Disclosure of transactions between related parties [line items] | |||
Purchase of goods and services, Transaction values | 0.1 | 0.2 | |
SIGNA Retail GmbH | |||
Disclosure of transactions between related parties [line items] | |||
Purchase of goods and services, Transaction values | 0.1 | 0.7 | 0.4 |
Purchase of goods and services, Balance outstanding | 0.7 | ||
SIGNA Financial Services AG | |||
Disclosure of transactions between related parties [line items] | |||
Purchase of goods and services, Transaction values | 1.5 | ||
Purchase of goods and services, Balance outstanding | 4 | ||
SIGNA International Sports Holding GmbH [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Financial liabilities and interest, Transaction values | € 0.8 | € 2.7 | |
SIGNA Holding GmbH | |||
Disclosure of transactions between related parties [line items] | |||
Financial liabilities and interest, Transaction values | 1.4 | ||
Financial liabilities and interest, Balance outstanding | € 81.4 |
Related party transactions - Ad
Related party transactions - Additional Information (Detail) - EUR (€) € in Millions | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Disclosure of transactions between related parties [line items] | ||
Expense recognised during period for bad and doubtful debts for related party transaction | € 0 | |
Nominal interest rate | 1.80% | 1.10% |
2% Related party loan, due March 2024 | SIGNA Retail Selection AG | ||
Disclosure of transactions between related parties [line items] | ||
Face value | € 5.3 | |
Nominal interest rate | 2% |
Remuneration of the members o_3
Remuneration of the members of Executive Management and the Board of Directors - Summary of Remuneration of Management (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Remuneration of Executive Management and Board of Directors [Abstract] | |||
Salaries and other short-term benefits | € 6.3 | € 4.3 | € 4 |
Post-employment benefits | 0 | 0 | 0.9 |
Termination benefits | 0 | 0 | 0.2 |
Share-based payments | 8.1 | 2.7 | 0 |
Total | € 14.4 | € 7 | € 5.1 |
Remuneration of the members o_4
Remuneration of the members of Executive Management and the Board of Directors - Additional Information (Detail) € in Millions | 12 Months Ended | |
Sep. 30, 2022 EUR (€) Members | Sep. 30, 2021 EUR (€) | |
Remuneration of Executive Management and Board of Directors [Abstract] | ||
Number of members in advisory board | Members | 7 | |
Advisory board remuneration | € | € 1.5 | € 0.3 |
Business combinations - Additio
Business combinations - Additional Information (Detail) - EUR (€) € in Millions | 5 Months Ended | 9 Months Ended | 10 Months Ended | 12 Months Ended | ||||
Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2022 | Sep. 30, 2022 | Sep. 30, 2021 | Jan. 01, 2022 | Dec. 14, 2021 | Apr. 30, 2021 | |
Wiggle Group | ||||||||
Disclosure of detailed information about business combination [line items] | ||||||||
Percentage of voting equity interests acquired | 100% | |||||||
Cash Consideration | € 236 | |||||||
Acquisition related costs | € 0.2 | € 3.6 | ||||||
Goodwill | 380.4 | |||||||
Impairment losses on goodwill | 243.7 | |||||||
Revenue of acquiree since acquisition date | € 223.8 | |||||||
Profit of acquiree since acquisition date | 123.1 | |||||||
Revenue of combined entity as if combination occurred at beginning of period | 295.9 | |||||||
Profit of combined entity as if combination occurred at beginning of period | € 175.8 | |||||||
Equity Consideration | 274.8 | |||||||
Wiggle Group | CGU Group Internetstores | ||||||||
Disclosure of detailed information about business combination [line items] | ||||||||
Goodwill | € 61.2 | |||||||
Tennis Express | ||||||||
Disclosure of detailed information about business combination [line items] | ||||||||
Percentage of voting equity interests acquired | 66.66% | |||||||
Cash Consideration | € 3.6 | |||||||
Acquisition related costs | € 0.1 | 0.3 | ||||||
Goodwill | 21.4 | |||||||
Revenue of acquiree since acquisition date | € 44.5 | |||||||
Profit of acquiree since acquisition date | 6.8 | |||||||
Revenue of combined entity as if combination occurred at beginning of period | 59.3 | |||||||
Profit of combined entity as if combination occurred at beginning of period | € 8.3 | |||||||
Equity Consideration | € 16.9 | |||||||
Tennis Express | Put call option | ||||||||
Disclosure of detailed information about business combination [line items] | ||||||||
Percentage of remaining non controlling interests obligated to be acquired under options | 33.34% | |||||||
Tennis Express | Put option | ||||||||
Disclosure of detailed information about business combination [line items] | ||||||||
Liabilities incurred | € 10.8 | |||||||
Midwest Sports Supply LLC. | ||||||||
Disclosure of detailed information about business combination [line items] | ||||||||
Percentage of voting equity interests acquired | 60.61% | |||||||
Cash Consideration | € 7.7 | |||||||
Acquisition related costs | € 0.4 | |||||||
Goodwill | € 11 | |||||||
Revenue of acquiree since acquisition date | € 16.5 | |||||||
Profit of acquiree since acquisition date | 0.5 | |||||||
Revenue of combined entity as if combination occurred at beginning of period | 35.9 | |||||||
Profit of combined entity as if combination occurred at beginning of period | € 2.5 | |||||||
Midwest Sports Supply LLC. | Put call option | ||||||||
Disclosure of detailed information about business combination [line items] | ||||||||
Percentage of remaining non controlling interests obligated to be acquired under options | 39.39% | |||||||
Midwest Sports Supply LLC. | Put option | ||||||||
Disclosure of detailed information about business combination [line items] | ||||||||
Liabilities incurred | € 5.5 |
Business combinations - Conside
Business combinations - Consideration Transferred (Details) - EUR (€) € in Millions | Dec. 14, 2021 | Sep. 30, 2021 |
Disclosure of detailed information about business combination [line items] | ||
Consideration transferred | € 122.8 | |
Wiggle Group | ||
Disclosure of detailed information about business combination [line items] | ||
Cash Consideration | € 236 | |
Equity Consideration | 274.8 | |
Consideration transferred | € 510.8 |
Business combinations - Summary
Business combinations - Summary of Business Combination (Detail) - EUR (€) € in Millions | Jan. 01, 2022 | Dec. 14, 2021 | Sep. 30, 2021 | Apr. 30, 2021 |
Disclosure of detailed information about business combination [line items] | ||||
Consideration transferred | € 122.8 | |||
Wiggle Group | ||||
Disclosure of detailed information about business combination [line items] | ||||
Property, plant and equipment | € 9.5 | |||
Right-of-use-assets | 24.8 | |||
Identifiable intangible assets | 202 | |||
Inventories | 78 | |||
Trade receivables | 0.7 | |||
Other current financial asset | 2.4 | |||
Other current assets | 11.2 | |||
Cash and cash equivalents | 45.8 | |||
Non-current provisions | (3.1) | |||
Non-current financial liabilities | (98) | |||
Deferred tax liabilities | (28.5) | |||
Trade payables | (41.2) | |||
Other current financial liabilities | (2) | |||
Other current liabilities | (69.6) | |||
Contract liabilities | (1.7) | |||
Total identifiable net assets acquired | 130.3 | |||
Consideration transferred | 510.8 | |||
Goodwill | 380.4 | |||
Wiggle Group | CGU Group Internetstores | ||||
Disclosure of detailed information about business combination [line items] | ||||
Goodwill | € 61.2 | |||
Tennis Express | ||||
Disclosure of detailed information about business combination [line items] | ||||
Property, plant and equipment | € 0.1 | |||
Right-of-use-assets | 0.2 | |||
Identifiable intangible assets | 7.1 | |||
Inventories | 9.1 | |||
Trade receivables | 0.1 | |||
Other current assets | 1.4 | |||
Cash and cash equivalents | 0.6 | |||
Deferred tax liabilities | (1.8) | |||
Tax liabilities | (1.1) | |||
Trade payables | (3.2) | |||
Other current liabilities | (2.6) | |||
Total identifiable net assets acquired | 9.9 | |||
Consideration transferred | 31.3 | |||
Goodwill | € 21.4 | |||
Midwest Sports Supply LLC. | ||||
Disclosure of detailed information about business combination [line items] | ||||
Property, plant and equipment | € 0.1 | |||
Right-of-use-assets | 0.6 | |||
Identifiable intangible assets | 1.7 | |||
Other non-current assets | 0.3 | |||
Inventories | 4.9 | |||
Trade receivables | 0.1 | |||
Other current assets | 0.1 | |||
Cash and cash equivalents | 0.2 | |||
Non-current provisions | (0.5) | |||
Tax liabilities | (0.7) | |||
Trade payables | (3.2) | |||
Other current liabilities | (1.4) | |||
Total identifiable net assets acquired | 2.2 | |||
Consideration transferred | 13.2 | |||
Goodwill | € 11 |
Disclosures on shareholdings _3
Disclosures on shareholdings in accordance with IFRS 12 - Summary of Subsidiaries Included in Consolidation (Detail) | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
SIGNA Sports NV | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Berlin, Germany | |
SIGNA Sports United GmbH | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Berlin, Germany | |
Sum of the direct and indirect shares | 100% | 0% |
Type of interest | FC | — |
Olympics I Merger Sub, LLC | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | George Town, Cayman Islands,UK | |
Sum of the direct and indirect shares | 100% | |
Type of interest | FC | |
OUTFITTER Teamsport GmbH | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Großostheim, Germany | |
Sum of the direct and indirect shares | 100% | 100% |
Type of interest | FC | FC |
Teamstolz GmbH | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Ehingen, Germany | |
Sum of the direct and indirect shares | 55% | 55% |
Type of interest | AE | AE |
SIGNA SPORTS CENTRO TÉCNICO SL | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Barcelona, Spain | |
Sum of the direct and indirect shares | 100% | 100% |
Type of interest | FC | FC |
Score Invest SAS | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Holtzheim, France | |
Sum of the direct and indirect shares | 80.60% | 80.60% |
Type of interest | FC | FC |
Tennis-Point GmbH | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Herzebrock-Clarholz, Germany | |
Sum of the direct and indirect shares | 100% | 100% |
Type of interest | FC | FC |
MRS Tennis AG | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Dietikon, Switzerland | |
Sum of the direct and indirect shares | 100% | 100% |
Type of interest | FC | FC |
Tennis-Point Handels GmbH | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Graz, Austria | |
Sum of the direct and indirect shares | 100% | 100% |
Type of interest | FC | FC |
TENNIS POINT SPOR MALZEMELERI LIMITED SIRKETI | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Serik Antalya, Turkey | |
Sum of the direct and indirect shares | 100% | 100% |
Type of interest | FC | FC |
Tennis-Point Iberia S.L. | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Barcelona, Spain | |
Sum of the direct and indirect shares | 100% | 100% |
Type of interest | FC | FC |
Tennis-Point d.o.o. | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Bol, Croatia | |
Sum of the direct and indirect shares | 100% | 100% |
Type of interest | FC | FC |
Bruneck, Italy | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Bruneck, Italy | |
Sum of the direct and indirect shares | 100% | 100% |
Type of interest | FC | FC |
Midwest Sports Supply LLC. | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Cincinnati, USA | |
Sum of the direct and indirect shares | 60.60% | 60.60% |
Type of interest | FC | FC |
Ballside GmbH | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Rostock, Germany | |
Sum of the direct and indirect shares | 100% | 100% |
Type of interest | FC | FC |
Tennis Express LLC | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Houston, USA | |
Sum of the direct and indirect shares | 66.70% | 0% |
Type of interest | FC | FC |
Publikat GmbH | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Großostheim, Germany | |
Sum of the direct and indirect shares | 100% | 100% |
Type of interest | FC | FC |
SIGNA Sport Online GmbH | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Munich, Germany | |
Sum of the direct and indirect shares | 100% | 100% |
Type of interest | FC | FC |
Internetstores Holding GmbH | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Stuttgart, Germany | |
Sum of the direct and indirect shares | 100% | 100% |
Type of interest | FC | FC |
Internetstores GmbH | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Stuttgart, Germany | |
Sum of the direct and indirect shares | 100% | 100% |
Type of interest | FC | FC |
Bikester Sweden Retail Stores AB | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Stockholm, Sweden | |
Sum of the direct and indirect shares | 100% | 100% |
Type of interest | FC | FC |
Stockholm, Sweden | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Stockholm, Sweden | |
Sum of the direct and indirect shares | 100% | 100% |
Type of interest | FC | FC |
Probikeshop-Dolphin France SAS | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Saint Etienne, France | |
Sum of the direct and indirect shares | 100% | 100% |
Type of interest | FC | FC |
E-Procall | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Saint Etienne, France | |
Sum of the direct and indirect shares | 100% | 100% |
Type of interest | FC | FC |
E-Prolog | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Chapponay, France | |
Sum of the direct and indirect shares | 0% | 100% |
Type of interest | 0 | FC |
SIGNA Beteiligung I Verwaltungs UG (haftungsbeschränkt) | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Munich, Germany | |
Sum of the direct and indirect shares | 100% | 100% |
Type of interest | FC | FC |
SIGNA Beteiligung I UG (haftungsbeschränkt) & Co KG | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Munich, Germany | |
Sum of the direct and indirect shares | 100% | 100% |
Type of interest | FC | FC |
Sports Data Services GmbH (formally known as INSIGNA GmbH) | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Munich, Germany | |
Sum of the direct and indirect shares | 100% | 100% |
Type of interest | FC | FC |
SIGNA AppVentures GmbH | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Munich, Germany | |
Sum of the direct and indirect shares | 100% | 100% |
Type of interest | FC | FC |
AEON SIGNA Sports United Co., Ltd. | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Chiba, Japan | |
Sum of the direct and indirect shares | 50% | 50% |
Type of interest | AE | AE |
New York, USA | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | New York, USA | |
Sum of the direct and indirect shares | 100% | |
Type of interest | FC | |
SSU Midwest Acqusition Corp. | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | New York, USA | |
Sum of the direct and indirect shares | 100% | |
Type of interest | FC | |
Sports Media Services Gmbh | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Berlin, Germany | |
Sum of the direct and indirect shares | 100% | |
Type of interest | FC | |
Mapil TopCo Limited | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Portsmouth, United Kingdom | |
Sum of the direct and indirect shares | 100% | |
Type of interest | FC | |
Mapil MidCo 1 Limited | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Portsmouth, United Kingdom | |
Sum of the direct and indirect shares | 100% | |
Type of interest | FC | |
Mapil MidCo 2 Limited | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Portsmouth, United Kingdom | |
Sum of the direct and indirect shares | 100% | |
Type of interest | FC | |
Mapil Bidco Limited | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Portsmouth, United Kingdom | |
Sum of the direct and indirect shares | 100% | |
Type of interest | FC | |
Ensco 503 Limited | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Portsmouth, United Kingdom | |
Sum of the direct and indirect shares | 100% | |
Type of interest | FC | |
Wiggle Limited | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Portsmouth, United Kingdom | |
Sum of the direct and indirect shares | 100% | |
Type of interest | FC | |
Peleton Topco Limited | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Portsmouth, United Kingdom | |
Sum of the direct and indirect shares | 100% | |
Type of interest | FC | |
Peleton Midco 1 Limited | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Portsmouth, United Kingdom | |
Sum of the direct and indirect shares | 100% | |
Type of interest | FC | |
Chain Reaction Cycles Limited | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Portsmouth, United Kingdom | |
Sum of the direct and indirect shares | 100% | |
Type of interest | FC | |
Hotlines Europe Limited | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Edinburgh, United Kingdom | |
Sum of the direct and indirect shares | 100% | |
Type of interest | FC | |
Chain Reaction Cycles Retail Limited | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Belfast, United Kingdom | |
Sum of the direct and indirect shares | 100% | |
Type of interest | FC | |
Taiwan Chain Reaction Co. Ltd | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Yuanlin, Taiwan | |
Sum of the direct and indirect shares | 100% | |
Type of interest | FC | |
Wiggle Australia Pty Limited | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Portsmouth, United Kingdom | |
Sum of the direct and indirect shares | 100% | |
Type of interest | FC | |
WiggleCRC US LLC | ||
Disclosure of subsidiaries [line items] | ||
Principal place of business, Country | Portsmouth, United Kingdom | |
Sum of the direct and indirect shares | 100% | |
Type of interest | FC |
Segment information - Narrative
Segment information - Narrative (Detail) € in Millions | 12 Months Ended | ||
Sep. 30, 2022 EUR (€) segment | Sep. 30, 2021 EUR (€) | Sep. 30, 2020 EUR (€) | |
Details Of Reconciliation Of Information On Reportable Segments To The Financial Statements Reported [Line Items] | |||
Impairment loss | € 254.9 | € 0.6 | € 0.1 |
Number of reportable segments | segment | 3 | ||
Number of operating segments | segment | 5 | ||
Tennis | Operating segments | |||
Details Of Reconciliation Of Information On Reportable Segments To The Financial Statements Reported [Line Items] | |||
Impairment loss | € 1.9 | ||
Bike & Outdoor | Operating segments | |||
Details Of Reconciliation Of Information On Reportable Segments To The Financial Statements Reported [Line Items] | |||
Impairment loss | € 252.9 |
Segment information - Summary o
Segment information - Summary of Information on Reportable Segments (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Disclosure of operating segments [line items] | |||
Revenue | € 2 | ||
Segment Assets | 1,309.5 | € 742.9 | |
Segment Liabilities | 692.2 | 369.5 | |
Operating segments | |||
Disclosure of operating segments [line items] | |||
Revenue | 1,069.5 | 820 | € 649.1 |
Segment Adjusted EBITDA | (35.5) | 44.6 | 24.3 |
Segment Assets | 885.4 | 702.8 | 640.4 |
Segment Liabilities | 926.5 | 537.5 | 454.2 |
Operating segments | Tennis | |||
Disclosure of operating segments [line items] | |||
Revenue | 259.1 | 165.4 | 125.9 |
Segment Adjusted EBITDA | (0.3) | 7.2 | 2.2 |
Segment Assets | 233.7 | 156.3 | 122.5 |
Segment Liabilities | 224.5 | 124.4 | 84.6 |
Operating segments | Bike & Outdoor | |||
Disclosure of operating segments [line items] | |||
Revenue | 763.6 | 607.6 | 497.5 |
Segment Adjusted EBITDA | (28.3) | 41.4 | 24.7 |
Segment Assets | 579.8 | 450.6 | 435.7 |
Segment Liabilities | 557.9 | 284.9 | 273.5 |
Operating segments | Teamsport | |||
Disclosure of operating segments [line items] | |||
Revenue | 46.8 | 47 | 25.6 |
Segment Adjusted EBITDA | (6.9) | (4) | (2.6) |
Segment Assets | 71.9 | 95.9 | 82.1 |
Segment Liabilities | 144 | 128.2 | 96.1 |
Operating segments | External revenue | |||
Disclosure of operating segments [line items] | |||
Revenue | 1,062.8 | 813.7 | 644.4 |
Operating segments | External revenue | Tennis | |||
Disclosure of operating segments [line items] | |||
Revenue | 259 | 165.4 | 125.5 |
Operating segments | External revenue | Bike & Outdoor | |||
Disclosure of operating segments [line items] | |||
Revenue | 763.4 | 607 | 497.4 |
Operating segments | External revenue | Teamsport | |||
Disclosure of operating segments [line items] | |||
Revenue | 40.4 | 41.2 | 21.6 |
Operating segments | Intersegment revenue | |||
Disclosure of operating segments [line items] | |||
Revenue | 6.6 | 6.3 | 4.6 |
Operating segments | Intersegment revenue | Tennis | |||
Disclosure of operating segments [line items] | |||
Revenue | 0 | 0 | 0.5 |
Operating segments | Intersegment revenue | Bike & Outdoor | |||
Disclosure of operating segments [line items] | |||
Revenue | 0.2 | 0.5 | 0.1 |
Operating segments | Intersegment revenue | Teamsport | |||
Disclosure of operating segments [line items] | |||
Revenue | € 6.4 | € 5.8 | € 4 |
Segment information - Summary_2
Segment information - Summary of Reconciliation of the Performance Indicators Presented in Segment Information (Detail) - EUR (€) € in Millions | 12 Months Ended | |||||
Dec. 14, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |||
Details Of Reconciliation Of The Performance Indicators Presented In The Segment Information [Line Items] | ||||||
Result from investments accounted for at equity | € 0 | € 0 | ||||
Depreciation and amortization | (53.9) | (28.5) | [1] | € (24.5) | ||
Loss before taxes for the total operations | (592.3) | (44.4) | [2] | (27.6) | [2] | |
Listing expenses (IFRS 2 service charge) | € 121.9 | 121.9 | 0 | [2] | 0 | [2] |
Signa Sports United Group | ||||||
Details Of Reconciliation Of The Performance Indicators Presented In The Segment Information [Line Items] | ||||||
Segment Adjusted EBITDA total** | (35.5) | 44.6 | 24.3 | |||
Unallocated corporate costs | (30.9) | (15) | (7.7) | |||
Acquisition related charges | (2.7) | (0.5) | (0.4) | |||
Reorganization and restructuring costs | 140.5 | 7.2 | 3.2 | |||
Consulting fees | 41.7 | 21.6 | 0.6 | |||
Share-based compensation | (17.1) | (2.7) | (0.1) | |||
Other items not directly related to current operations | (2.7) | 1.2 | (2.5) | |||
Other net finance income/ (cost) | 19.5 | (0.3) | 0 | |||
Impairment loss | 254.9 | 0.6 | 0.1 | |||
Result from investments accounted for at equity | (1.2) | (1.3) | (0.7) | |||
Interest Expense (net) | (4.2) | (4.3) | (7.1) | |||
Depreciation and amortization | (53.9) | (28.5) | (24.5) | |||
Loss before taxes for the total operations | (565.9) | (36.2) | (22.6) | |||
Reclassification adjustment, impact to Adjusted EBITDA | 1.4 | € 1.4 | ||||
Listing expenses (IFRS 2 service charge) | 121.9 | |||||
Termination benefits expense | 2.8 | |||||
Expense of restructuring activities | 18.5 | 4 | ||||
Signa Sports United Group | Market study | ||||||
Details Of Reconciliation Of The Performance Indicators Presented In The Segment Information [Line Items] | ||||||
Consulting fees | 0.8 | |||||
Signa Sports United Group | ERP implementation | ||||||
Details Of Reconciliation Of The Performance Indicators Presented In The Segment Information [Line Items] | ||||||
Consulting fees | 3.9 | |||||
Signa Sports United Group | SOX compliance | ||||||
Details Of Reconciliation Of The Performance Indicators Presented In The Segment Information [Line Items] | ||||||
Consulting fees | 3.2 | |||||
Signa Sports United Group | Business combinations | ||||||
Details Of Reconciliation Of The Performance Indicators Presented In The Segment Information [Line Items] | ||||||
Consulting fees | 1.5 | |||||
Signa Sports United Group | Share listing expense | ||||||
Details Of Reconciliation Of The Performance Indicators Presented In The Segment Information [Line Items] | ||||||
Consulting fees | € 25.7 | € 17.8 | ||||
[1]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations.[2]The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 11- Discontinued operations. |
Segment information - Summary_3
Segment information - Summary of Reconciliations of Information on Reportable Segments (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Details Of Reconciliation Of Information On Reportable Segments To The Financial Statements Reported [Line Items] | |||
Consolidated revenue | € 2 | ||
Consolidated assets | 1,309.5 | € 742.9 | |
Consolidated liabilities | 692.2 | 369.5 | |
Unallocated and intersegment elimination | |||
Details Of Reconciliation Of Information On Reportable Segments To The Financial Statements Reported [Line Items] | |||
Consolidated revenue | (6.6) | (6.3) | € (4.6) |
Consolidated assets | 424.1 | 40.1 | 41.6 |
Consolidated liabilities | (234.2) | (168) | (119.3) |
Reportable segments | |||
Details Of Reconciliation Of Information On Reportable Segments To The Financial Statements Reported [Line Items] | |||
Consolidated revenue | 1,069.5 | 820 | 649.1 |
Consolidated assets | 885.4 | 702.8 | 640.4 |
Consolidated liabilities | 926.5 | 537.5 | 454.2 |
Reportable segments | External revenue | |||
Details Of Reconciliation Of Information On Reportable Segments To The Financial Statements Reported [Line Items] | |||
Consolidated revenue | 1,062.8 | 813.7 | 644.4 |
Consolidated assets | 1,309.5 | 742.9 | 682 |
Consolidated liabilities | € 692.2 | € 369.5 | € 334.9 |
Segment information - Summary_4
Segment information - Summary of Geographical Information of Noncurrent Assets (Detail) - EUR (€) € in Millions | Sep. 30, 2022 | Sep. 30, 2021 |
Disclosure of geographical areas [line items] | ||
Non-current assets | € 592.9 | € 297.1 |
Germany | ||
Disclosure of geographical areas [line items] | ||
Non-current assets | 296 | 245.8 |
United Kingdom | ||
Disclosure of geographical areas [line items] | ||
Non-current assets | 0.7 | 0.2 |
Switzerland | ||
Disclosure of geographical areas [line items] | ||
Non-current assets | 223.4 | 0 |
Austria | ||
Disclosure of geographical areas [line items] | ||
Non-current assets | 1 | 0.6 |
France | ||
Disclosure of geographical areas [line items] | ||
Non-current assets | 34.9 | 31.4 |
USA | ||
Disclosure of geographical areas [line items] | ||
Non-current assets | 16.5 | 2.2 |
Rest of the world | ||
Disclosure of geographical areas [line items] | ||
Non-current assets | € 20.5 | € 17 |
Events after the reporting pe_2
Events after the reporting period - Additional Information (Detail) - EUR (€) € in Millions | Feb. 06, 2023 | Feb. 03, 2023 | Sep. 30, 2022 | Sep. 28, 2022 |
LBBW credit facility | Forecast | ||||
Disclosure of non-adjusting events after reporting period [line items] | ||||
Liquidity covenant requirement | € 30 | |||
Subscription agreement with SIGNA Holding GmbH | Senior unsecured convertible loan | ||||
Disclosure of non-adjusting events after reporting period [line items] | ||||
Face value | € 100 | |||
Borrowings upsize option | 200 | |||
Subscription agreement with SIGNA Holding GmbH | Senior unsecured convertible loan | Minimum | ||||
Disclosure of non-adjusting events after reporting period [line items] | ||||
Borrowings upsize option | € 1 | |||
Put right commitments from SIGNA Holding GmbH | ||||
Disclosure of non-adjusting events after reporting period [line items] | ||||
Commitments received | € 130 | |||
Amendment agreement with SIGNA Holding | SIGNA Holdings revolving credit agreement 3 | ||||
Disclosure of non-adjusting events after reporting period [line items] | ||||
Borrowings maximum amount | € 50 |